Helping Healthcare Scale: Recent Episodes
Austin Hair - Real Estate Developer
Imagine you're friends with multiple CEO's of billion dollar organizations. You can call them anytime you like and ask them all that they've learned about real estate and investing, including some of their biggest mistakes.
That's the mission of this podcast, to teach the insider strategies used by the big guys to everyday healthcare operators in order to get access to the best strategies and real estate at the best prices.
If you need help finding the perfect location or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
Mike Murphy, founder and managing partner of Sunstone Management Advisors, has worn the CEO, COO and CRO hats across three decades in healthcare and insurance. In this episode he recounts how he launched a cold‑start insurance division that rocketed to $435 million in revenue and $22 million in EBITDA in just four years, and now clears the $1 billion mark. He even delivered 18% revenue growth and a 40% EBITDA jump within his first year steering three merged healthcare entities.
At the heart of his success was the “greenhouse” experiment: an in‑house test market where agents sold competitor products so Murphy’s own offering had to prove itself at every turn. He explains why running as if you’re cash‑starved from day one forces ruthless discipline and how that early mindset continues to separate winners from wishful thinkers.
You’ll also hear the deceptively simple A + B = C check that Mike uses to expose false premises—if great people plus a good product still don’t hit targets, something fundamental is broken. When his leadership team argued over how much change was needed to reach a $1 billion valuation, he improvised a 1–10 “change scale” to pin down hidden disagreements and avoid collective denial.
Healthcare operators and real‑estate investors alike will gain clear, battle‑tested advice on commanding your P&L before negotiations, building feedback loops that surface inconvenient truths fast, and resisting the temptation to chalk up disasters or windfalls to one‑offs. Tune in for every unvarnished lesson on execution, data‑driven decisions, and the high‑stakes experiments that turn uncertainty into predictable wins.
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Dalton Albertson, Marketing & Business Development at LAD Dental Group, and Brad Lenos, the company’s COO, take you behind the scenes of an 11-location Indiana network that began as a single Kokomo practice in 1978 and grew into a dental powerhouse—almost derailed by one bad lease. In Wabash they under-priced a brand-new build by $200,000, a cautionary tale for anyone who thinks location costs are just another line item.
They confront the brutal truth of today’s “dollar milkshake” economy, where owning real estate feels like a hedge against global liquidity—but inflated rents can turn thriving offices into cash hemorrhages. Their battle over whether to buy or lease has become the most controversial debate in multi-site healthcare real estate, and their lessons apply equally to med-spa operators, veterinary networks, and wellness chains.
You’ll hear how converting from cash-based to accrual accounting ripped away hidden write-offs, exposed distorted KPIs, and forced every hire to carry new financial accountability. In a 4 % unemployment market where staff wages have doubled while insurance reimbursements stayed flat, they reimagined benefit packages, reconsidered seven-day schedules, and doubled down on airtight 30/60/90-day reviews.
At the heart of their success lies ruthless execution and radical candor. Free snacks did nothing to stop turnover, but a culture built on unyielding follow-through and consistent training transformed every department into a margin-savvy machine.
If you’re scaling any service-based business, this episode hands you the real-estate playbook and leadership blueprint to dodge nine-figure mistakes and build teams that last. Stream now on YouTube or LinkedIn, and visit LADDental.com to see how a single square foot can make or break your next expansion.
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If your dental practice blends in, you’re already losing. Patients overlook you. Talent walks past you. Investors hesitate.
In this episode, I talk with Alex Sharp, CEO of Shared Practices Group – a powerhouse that’s launched 36 de novo practices across 23 states. We unpack what it really takes to build a practice that stands out in a saturated market.
We cover:
→ How to use grocery anchor data and competition overlays to find winning locations
→ The systems that drive fast cash flow and predictable growth
→ How to build playbooks that remove guesswork and create consistency across every site
→ The internal habits and team culture that actually hold it all together
If you’re building a multisite group or planning your next de novo, this conversation will give you a sharper edge – and a clearer strategy for building something no one else can replicate.
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Your financial future isn't what you've been promised. The startling revelation at the heart of our conversation with Mark Willis, owner of Lake Growth Financial Services and bestselling author, is that average investment returns are functionally meaningless. While Wall Street touts 9% returns, actual investor results hover around 3.6% according to research from Dalbar—a discrepancy that could derail healthcare professionals' retirement plans.
Mark shares a powerful explanation of how volatility destroys compound growth with a clear example: if your investment grows 100% one year and drops 50% the next, the financial industry will claim you earned 25% annually—but you've actually made nothing. This mathematical sleight-of-hand affects everyone from physicians to dentists who rely on traditional investment vehicles for retirement.
The conversation takes a fascinating turn as Mark introduces an alternative financial strategy gaining popularity among healthcare professionals: using specially-designed dividend-paying whole life insurance as a personal banking system. Through a detailed case study, Mark demonstrates how a dentist accessed $50,000 for practice equipment at just 1.92% interest while his policy continued earning approximately 5.5%—creating an arbitrage opportunity conventional banking cannot match.
What makes this approach particularly valuable for healthcare practice owners is the guaranteed access to capital regardless of economic conditions. Unlike HELOCs or business loans that can be reduced or called during downturns, these policies provide contractually guaranteed liquidity under your control. Mark explains how practitioners can use this strategy to finance equipment, real estate, or practice acquisitions while building a growing pool of capital that ultimately converts to guaranteed lifetime income.
Ready to explore how these strategies might work in your healthcare practice? Download a free chapter of Mark's new book "The Business Fortress" at newbankingsolution.com and discover how to reclaim control of your financial future without relying on Wall Street's mathematical fictions.
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Keith Miller, president of Partnerships for Dental (P4D), returns to the podcast to share how his organization has grown from two to 40 locations since 2017 —now 41— while many competitors have faltered under challenging market conditions. With refreshing candor, Miller reveals the financial discipline that has kept P4D profitable despite rising interest rates and inflated practice valuations across the dental industry.
At the heart of P4D's success lies a disciplined approach to acquisitions and operations. While competitors chased growth by paying 8-9x multiples for practices, Miller's team maintained strict financial criteria, focusing on practices generating at least $1.5 million with multiple providers. More impressively, they consistently deliver 35-40% EBITDA increases within the first year post-acquisition through supply chain optimization and operational improvements without disrupting clinical staffing.
The conversation takes a fascinating turn when Miller describes how the dental acquisition landscape has fundamentally changed. What was once a robust arbitrage opportunity—buying practices at 3-4x multiples and selling consolidated groups at 10-15x—has compressed dramatically. Today's buyers pay 6-7x while consolidated entities might only command 9-10x, leaving razor-thin margins after corporate overhead. This shift has created significant challenges for highly leveraged groups, especially with interest rates soaring from 3-5% to 11%+.
Miller also shares innovative approaches to post-COVID staffing challenges, including technology partnerships that have cut insurance collection times from 30 to 15 days. The episode concludes with personal insights on wellness routines, including daily ice baths and sauna sessions, providing a glimpse into the discipline that carries through both his business and personal life.
For practice owners considering partnerships or entrepreneurs building dental groups, this episode delivers essential perspective on creating sustainable growth in today's challenging dental marketplace. Visit p4dentists.com to learn more about their partnership approach.
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Ever been told that real estate is truly passive income? Think again. In this eye-opening discussion with David Phelps, founder of Freedom Founders, we pull back the curtain on the myths surrounding "passive" investing and explore why traditional approaches like the 60-40 portfolio may no longer serve investors in today's economic landscape.
David shares why business owners and entrepreneurs who build successful companies should apply that same hands-on approach to their investments. We explore how real estate provides stability that public markets can't match, thanks to its inefficient marketplace that doesn't swing wildly based on algorithms and sentiment. While public equities offer greater liquidity, solid real estate backed by proven tenants in strong demographics rarely plummets to zero or fails to generate income, even during recessions.
The conversation takes a fascinating turn as we discuss the spectrum of investment activity - from truly passive vehicles like ETFs to more involved approaches that require due diligence but potentially offer greater returns and control. David shares a remarkable story of purchasing an elementary school for just $16,000 and selling it three years later for approximately $350,000, illustrating how building the right network can lead to extraordinary off-market opportunities.
We also tackle current economic realities, including concerns about government spending and money printing potentially leading to corrections. However, rather than advocating sitting on the sidelines out of fear, we discuss the importance of mitigating downside risk while maintaining some dry powder for future opportunities. David reveals his approach to helping investors through Freedom Founders - not by "feeding them fish" but by "teaching them how to fish" through education, community, and collaborative due diligence.
Whether you're an experienced investor looking to diversify or someone just beginning to explore alternatives to traditional investments, this conversation provides valuable insights on finding your personal balance between active and passive strategies. Discover how to protect what you've built while positioning yourself for continued growth in changing economic times.
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The intersection of geopolitics and real estate creates both challenges and opportunities for savvy investors. Canadian investor and real estate coach Terrie Schauer joins us to dissect the potential impact of proposed US-Canada tariffs on real estate investments across North America.
Terrie provides fascinating contrasts between the US and Canadian economies that challenge common stereotypes. While Americans are often portrayed as debt-happy consumers, Canadians actually carry significantly more debt—$1.74 for every dollar earned compared to America's $0.82. This disparity stems largely from Canada's sky-high housing costs, as the country never experienced the 2008 housing market correction that reset US prices.
We dive deep into the critical process of vetting real estate operators when considering passive investments. Terrie emphasizes looking beyond simple return metrics to understand the macroeconomic context of past performance. A 100% IRR during the frothy markets of late 2021 might be less impressive than breaking even on a deal sold during today's challenging interest rate environment. The conversation reveals practical strategies for evaluating potential partners, including speaking with their previous investors and asking pointed questions about deals that didn't perform as expected.
For healthcare professionals balancing demanding careers with wealth-building, Terrie challenges the notion of "passive income" in real estate. While property investments can be "passive-er" than running a practice, truly hands-off returns only come through carefully selected partnerships. We explore the opportunity costs of capital allocation decisions and why emotional reasoning about taxes often leads investors astray.
Whether you're considering your first real estate investment or looking to diversify across borders, this episode provides crucial perspective on navigating economic uncertainty while building wealth through property. Subscribe now for more insights on leveraging real estate to scale your healthcare organization.
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The path to scaling a successful dental group isn't always smooth, as Dr. Bradley Dykstra candidly reveals in our raw conversation about overcoming critical staffing challenges. When unexpected provider departures left his practices struggling, he turned to temporary dentists—a decision that spiraled into financial strain and team burnout.
"They just want to come and collect their paycheck," Dr. Dykstra shares about the locum tenens experience that cost his practice dearly. Through this painful journey, he learned crucial lessons about vetting providers, setting clear expectations, and maintaining accountability. His honest reflection offers invaluable guidance for any healthcare organization facing similar staffing dilemmas.
Beyond staffing solutions, we explore the counterintuitive strategy of consolidation. By reducing from seven locations to six, MI Smile Dental Group strengthened their bottom line and optimized resources. "It's not number of locations, it's the bottom line that really counts," emphasizes Dr. Dykstra, challenging the growth-at-all-costs mentality common in healthcare.
Looking ahead to 2025, Dr. Dykstra reveals his innovative approach to hygienist compensation—treating them as true providers with production incentives rather than fixed salaries. This forward-thinking strategy aims to attract motivated clinicians while controlling labor costs in an environment where insurance reimbursements remain stagnant despite rising expenses.
Whether you're managing temporary staffing challenges, considering practice consolidation, or reimagining compensation structures, this episode delivers actionable insights from someone who's navigated these waters. Visit www.mismilesdentalgroup.com to learn more about their approach to dental practice management.
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Dr. Kevin Kremer reveals his powerful "Three C's" framework—Customer, Culture, and Company—that drives success in healthcare practices. As the visionary behind Kremer Dental Care, New Smile Now, and the Kremer Leadership Institute, and author of "Quantum Accountability," Dr. Kremer shares proven strategies that have turned struggling practices into thriving businesses.
The customer experience hinges on seemingly small but crucial details – like the 10-foot rule of acknowledgment, proper handoffs between team members, and ensuring patients are never left unattended during their visit. These service elements create the foundation for practice loyalty and growth.
Building a thriving culture means creating an environment where change is embraced rather than feared. Dr. Kremer details his systematic approach to team management through weekly check-ins between leads and team members, establishing regular feedback loops that prevent burnout and enhance performance. This democratic approach ensures team members feel heard while maintaining clear direction.
Perhaps most revealing is Dr. Kremer's discussion of financial health through comprehensive KPI tracking. He shares the remarkable story of a burned-out dentist making under $70,000 despite working four days weekly, whose income tripled after implementing proper business systems while simultaneously improving patient care.
Beyond practice management, Dr. Kremer introduces the concept of "mental obesity" – how our minds are becoming overwhelmed by digital stimulation just as our bodies struggle with processed foods. The constant dopamine hits from smartphones and social media create addiction patterns that directly impact our productivity and happiness. His practical approach to implementing technology "guardrails" offers a path to reclaiming mental wellness.
Ready to transform your practice through accountability and strategic implementation? Connect with Dr. Kremer at kevin@kremerleadership.com or through his social media channels to discover how these principles can create sustainable success in your healthcare business.
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A Guest Episode from Break of Day Capital | Dive into the transformative world of healthcare real estate with Austin Hair as we explore how data analysis can elevate your investment strategies. From understanding patient demographics to leveraging grocery anchor data, this episode is packed with insights that promise to change your approach to site selection in healthcare.
Austin, a seasoned investor with a fascinating background, shares how he transitioned from professional wakeboarding to investing in healthcare properties. Learn about tiering systems that align specific healthcare services with the right locations and why this strategic positioning can lead to increased success.
We also tackle the pressing issues of competition and inflation within the market. With insightful discussions on multi-tenant developments, discover how diversifying your portfolio can not only mitigate risk but also provide more stable returns. This is a must-listen for anyone looking to navigate the medical retail landscape effectively.
Curious to learn more and engage with our community? Be sure to subscribe to our podcast for future episodes, share your thoughts, and leave a review to help others discover this valuable content.
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Are you curious about what it takes to scale a healthcare business effectively? This episode features Jeremy Wright, the CEO of Princeton MedSpa Partners, who shares invaluable insights into his journey from management consulting to running a growing medspa network.
Wright dives into the intricacies of building a strong organizational culture, emphasizing the importance of aligning a diverse team under a unified mission. He believes that the core of any successful healthcare organization is ensuring that employees feel valued and connected to the company's goals. His approach includes starting with open conversations, allowing team members to express their concerns and ideas, thus fostering a more engaged workplace atmosphere.
As he discusses the growth strategies for the medspa industry, Wright sheds light on how systemic operations can be placed to streamline processes, cross your operational hurdles, and ensure consistency across multiple locations. He points out the necessity of creating robust systems that facilitate better data management, enabling informed decision-making which can significantly impact profitability.
Tune in to hear not only the personal experiences of a healthcare leader but also actionable advice for anyone in the industry seeking to replicate such success. Don’t miss this chance to enhance your understanding of healthcare scaling, leadership dynamics, and the role of a strong corporate culture in achieving your business goals.
Ready to dive in? Subscribe for more expert insights and strategies about growing healthcare organizations!
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What if scaling a healthcare business was more about strategic real estate choices and less about the medical services themselves? Troy Bage, CEO of Tend, unveils his transformative journey from physical therapist to a leader who expanded healthcare locations from 30 to over 1200. Discover how he navigates DeNovo strategies and the complexities of franchising, while emphasizing the critical role of selecting the right partners. Troy shares his experiences and the often-misunderstood reputations of private equity and franchising, revealing the keys to sustainable growth and enduring success.
Enter the world of modern dentistry through the innovative lens of a company founded by venture capital group Juxtapose. They've reimagined dental care by addressing gaps left by large Dental Service Organizations in urban areas. Learn about their unique approach to enhancing patient experiences with technology and service, from a proprietary app to noise-canceling headphones, and how they leverage prime urban real estate for maximum visibility. Their strategic marketing tactics and commitment to accessibility have led to impressive growth across major cities, transforming how urbanites perceive and experience dental visits.
The future of dentistry is here, and it's driven by cutting-edge technology and strategic partnerships. From extended operational hours to the integration of AI imaging and 3D printing, Troy Bage discusses how these advancements are optimizing efficiency and patient satisfaction. He delves into the impact of proprietary booking software that revolutionizes appointment scheduling. Leadership and organizational alignment are also key themes, with insights into using OKRs for goal alignment and fostering a culture of continuous improvement. Explore the balance between remote and traditional work environments, as well as unique leadership philosophies that support growth and empowerment within the dental industry.
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Curious about how financial priorities can harmonize with a people-centric culture in healthcare? Join us for a compelling conversation with Ken Kaufman, a visionary leader in the dental support organization sector, as he reveals the delicate balance between fostering a thriving organizational culture and achieving financial goals. With his impressive journey from BYU to CFO, Ken offers invaluable insights into strategies for sustainable growth, emphasizing the importance of caring for employees and patients alike. Discover how Ken's passion for startups and the dental industry has shaped his approach to building a culture where financial and cultural priorities are not at odds but work in tandem to drive success.
Unlock the secrets of maximizing healthcare revenue as Ken shares his expert advice on creating robust systems and automating processes within practice management. From merging Revenue Cycle Management systems to conducting annual fee schedule reviews, Ken provides actionable steps to optimize collections and streamline operations. Learn how transitioning to accrual accounting and implementing effective analytics can paint an accurate picture of business health while maintaining ethical practices. This episode promises a deep dive into the complexities of financial operations, offering practical guidance to navigate these challenges without losing sight of what truly matters—your organization's cultural core.
As we explore the intricacies of compensating healthcare providers and the exciting realm of real estate partnerships, Ken sheds light on incentivizing growth and creating strategic collaborations. Gain insights into salary ranges, compensation structures, and the ever-evolving landscape of commercial real estate ventures. Whether you're a dental practice manager or a healthcare executive, Ken's experience and wisdom will equip you with the knowledge to make informed, strategic decisions that align financial success with a vibrant, people-focused organizational culture.
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Unlock the secrets of strategic growth in healthcare real estate with our special guest, Dr. Dipesh Patel, the visionary founder and CEO of Blueprint Smiles. Discover how Dr. Patel expanded his dental empire from six to eight locations around Atlanta by expertly navigating the complexities of real estate transactions. Learn from his firsthand experiences about the crucial role of lease agreements in ensuring successful exits, and why having the endgame in sight is non-negotiable when negotiating terms.
Next, we delve into the unique challenges and opportunities that various real estate environments present for healthcare growth, particularly in North Georgia's dental landscape. Dr. Patel shares how the pandemic reshaped patient behaviors, influencing the shift towards remote work and impacting dental practices in high-rise offices. Gain insights into his transition from hands-on clinical work to a managerial focus, allowing him to steer the expansion and support of a burgeoning group of dental offices with strategic precision.
Finally, we explore the current economic climate's impact on dentistry, where managing growth and team dynamics requires a delicate balance. Hear our discussion on the timing of team expansion, the financial implications of growth, and aligning business choices with personal aspirations. We also cover macroeconomic influences such as inflation and interest rates, and offer strategies for stable growth amidst these challenges. Dr. Patel’s emphasis on ethical practices and an operator-first mentality provides a roadmap for maintaining control and ensuring sustainable success in today's market.
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Join us for a captivating conversation with Justin Coke, the dynamic CEO and founder of 7 to 7 Dental, as he unveils the strategic maneuvers behind scaling healthcare practices through private equity partnerships. Discover why partnering with GTCR Private Equity was a game-changer for his business and learn about the meticulous due diligence process that ensured alignment with the right financial partner. Unpack the apprehensions healthcare executives face when considering private equity, and gain insights into maintaining control while accelerating growth in the competitive healthcare landscape.
We dive deep into the art of crafting a robust healthcare business model centered on patient access and scalability. Listen as Justin shares the strategic advantages of having a unique story and a process-driven approach that enhances negotiation power and maximizes business value. Hear about the critical transition from cash-based to accrual accounting, a move that not only boosts company valuation but also attracts sophisticated buyers. As Justin discusses the transition, he emphasizes the significance of compliance and thorough preparation for smoother business operations and transitions.
Explore the broader financial landscape with us as Justin discusses the impact of low-interest rates on Dental Service Organizations and the resulting market corrections. Learn the lessons of cautious financial planning and the dangers of excessive reliance on borrowed money. From strategic growth decisions to the timing of business sales, this episode is packed with practical advice and compelling stories for healthcare professionals and executives looking to navigate the complex world of private equity partnerships and healthcare expansion.
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Discover the future of dentistry as Dr. Sepand H, the visionary CEO and founder of Total Health Dental Care, redefines what it means to run a Dental Service Organization (DSO). From aspiring software engineer to groundbreaking dentist, Dr. H shares his journey and unveils a tech-enabled model that promises to enhance patient care. His revolutionary approach aims to seamlessly connect dentists and specialists, creating an exceptional patient experience that boosts both retention and profitability. Join us as Dr. H sets the stage for a new era in dentistry, challenging the limits of traditional practices.
Technology's transformative power takes center stage, illuminating a path forward for DSOs grappling with modern challenges like wage inflation and capped fees. Since 2021, embracing innovation has become a necessity, not a choice. Learn how advanced tech solutions can refine operational processes, allowing for better staff compensation and a more satisfying patient experience through automation and online services. Dr. H passionately advocates for native technology solutions tailored to the dental industry's intricacies, highlighting their potential to streamline operations and revolutionize business models.
Navigate the labyrinth of banking regulations and macroeconomic dynamics with us, focusing on their implications for the growth of DSOs. The conversation delves into the effects of the Dodd-Frank Act and the critical role of private equity in dental service expansion. With insights into potential interest rate changes and persistent wage growth, Dr. H discusses strategic financial planning to maintain healthy margins. By integrating technology and adjusting fees, DSOs can adapt and thrive amidst economic uncertainties. Tune in for a deep dive into the intersection of technology, finance, and dentistry, and leave with valuable insights for your own practice.
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Discover the transformative shifts in the dental industry with our special guest, Dr. AJ Acierno, President of Clinical Operations at Smile Brands. As the dental field grapples with post-pandemic challenges like workforce shortages and financial pressures, Dr. Acierno shares his insights on maintaining access to care and achieving financial stability for dental practices. Listen in to learn how a provider-centric approach, emphasizing clinical and operational excellence, can help navigate these turbulent times. We explore the strategies Smile Brands employs to integrate new team members and improve patient flow, ensuring that clinical staff aren't overwhelmed.
Understanding the patient journey has never been more crucial, especially within Dental Support Organizations. Our conversation with Dr. Acierno reveals how clear expectations and Standard Operating Procedures can enhance the patient experience and uphold high clinical standards. We also delve into the comparative advantages of group practices over private practices and offer practical advice on safeguarding professional standards through contracts. Lastly, we spotlight the importance of networking and open communication in the dental community, providing resources and connections through Smile Brands to support practice growth and collaboration.
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Discover how a marketing expert transforms into a leading voice in the dental industry as we welcome Jeffrey Tomcsik, CEO of Grand Dental Group. Get ready to uncover the secrets behind substantial practice growth and the remarkable journey from marketing whiz to dental CEO. Jeffrey shares his story of revitalizing Tidewater Dental through a keen focus on inefficiencies and patient experience, demonstrating the power of fresh perspectives in reshaping a practice's image and success. Through insightful strategies and a commitment to change, he proves that significant progress is not just a possibility but a reality.
Join us as we navigate the complex world of dental practice growth and acquisitions, shedding light on strategic decisions that fuel success. Jeffrey opens up about the dynamic challenges faced during the acquisition by Allied, now ProSmile, emphasizing the crucial role of cultural alignment and the innovative use of phantom equity. With a keen focus on sustainable growth, he discusses future acquisition strategies that value partnerships with retiring dentists. This episode is a treasure trove of insights for anyone interested in healthcare organization growth, mergers, and strategic business transitions.
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Join us for an incredible journey with Adam Gower, a master in real estate and online marketing, who transitioned from working as an electrician in California to becoming a key player in capital raising for large-scale developments. Adam shares his remarkable story, including his adventures in Japan during the savings and loan crisis, where he raised funds from Japanese investors for multifamily projects. His experience highlights the power of resilience and adaptability, showcasing how he overcame language barriers to become a fluent Japanese speaker and a pivotal figure in the real estate industry.
Prepare to unlock the secrets of capital raising with Regulation D offerings, as we explore the nuances of 506b and 506c and their implications for investor outreach. Discover how platforms like Facebook and LinkedIn can be leveraged for lead generation, and why the lifetime value of investors is more critical than initial acquisition costs. Through engaging discussions, you'll learn how to harness the power of a strong online presence and educational content to build credibility and long-lasting relationships with investors.
We also delve into the innovative realm of AI in real estate, with insights into companies like Dono.AI revolutionizing title searches and off-market deal identification. From AI's transformative potential to enhancing your email marketing strategies, this episode is packed with valuable tips to elevate your real estate endeavors. Enhance your lead generation with LinkedIn and newsletters, and stay ahead of the curve with our upcoming LinkedIn training. Don't miss out on the opportunity to expand your knowledge and connect with industry experts through our weekly newsletter and exclusive webinar offers.
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Unlock the secrets of building a successful Dental Support Organization (DSO) with insights from our esteemed guest, Will MacInnis, founder and CEO of Cliffridge Specialty Partners. Will's fascinating journey from healthcare investment banking to the niche field of orthodontics and pediatric dentistry offers a rich tapestry of knowledge. This episode explores the divergent healthcare investment landscapes across the US and Europe, and how Will's experiences at TPG helped shape his innovative approach to physician practice management in dental specialties.
Discover how Will transitioned from private equity to an executive role, leveraging technology to enhance operational efficiency in clinical trials and founding a doctor-centric DSO. We unravel the strategic decisions that empower doctors by aligning clinical autonomy with economic interests. Through engaging discussions, we explore how marketing technology and automated HR solutions can combat challenges such as rising costs and capped reimbursement rates, all while maintaining the vital human touch in patient care.
As we navigate the complexities of building a sustainable DSO business, we emphasize the importance of mission alignment and cultivating a strong team culture. Will shares unexpected experiences and industry perceptions, providing valuable lessons on sustainable growth over rapid expansion. This episode is a treasure trove of insights for healthcare entrepreneurs and investors, highlighting the significance of focusing on fundamentals and establishing robust partnerships with specialists like orthodontists in a constantly evolving economic landscape.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
What if you could revolutionize your approach to scaling healthcare organizations by leveraging unique real estate strategies? This episode is your chance to gain insights from Dominic Mazzone, CEO of MedSpa Partners, whose entrepreneurial journey includes launching 19 ventures across various industries. MedSpa Partners owns 40 locations.
Dominic shares his transformative experiences, from running a car detailing business to pioneering an internet funeral company. We unravel the fine line between management and leadership, emphasizing the importance of learning from both triumphs and setbacks in building successful healthcare ventures. Dominic's reflections from his tenure at WorldCom highlight the necessity of self-awareness in discerning leadership traits, providing listeners with valuable lessons on effective leadership.
Join us as we discuss the strategic importance of prioritizing quality over quantity in clinic acquisitions and the operational challenges that accompany scaling up. Dominic delves into the power of equity distribution, demonstrating how it aligns the interests of senior leaders with the company's vision and fosters a culture of collaboration and resilience. Through the compelling saga of launching a medical aesthetics roll-up business, we explore the vital role of building a network of key opinion leaders and the art of navigating initial entrepreneurial hurdles. This episode is packed with practical wisdom and encourages an inquisitive mindset, urging entrepreneurs to harness expert knowledge for collective success.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Join us for a conversation with Dr. Bryan Laskin, a dentist who has boldly ventured into the realm of dental technology innovation. We explore how a surprising epiphany about his initial career choice led Dr. Laskin on a path to revolutionize data accessibility in dental practices. His journey from traditional dentistry to the creation of OperaDDS and Toothapps is a testament to his passion for enhancing patient care and streamlining practice operations through technology.
Uncover the dynamic intersection of tech and dentistry with Dr. Laskin's work on Toothapps, a platform aiming to modernize dental practices worldwide. Dive into how this technology is tackling challenges like patient data transfer and compliance with regulations such as HIPAA. With innovative tools for online scheduling, teledentistry, and seamless communication between practitioners, Toothapps is setting a new standard for efficiency and patient interaction in the dental industry.
We also explore the future of "dentistry 3.0," where automation and AI bring transformative potential to dental practices. Discover how these advancements can optimize operations, reduce mundane tasks, and enhance patient engagement, paving the way for more personalized care. Dr. Laskin shares insights into AI-driven treatment planning and the importance of integrating medical and dental records. Join us as we navigate the exciting possibilities of a technology-driven dental world and learn how to stay informed about the latest developments by visiting toothapps.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Unlock the secrets to scaling a veterinary emergency care network from 40 to 87 locations even amidst economic turbulence. Our guest, Jennifer Hanlon, Senior Director of Real Estate and Development at the Veterinary Emergency Group (VEG), shares her expert insights into the company’s strategic growth. Learn how VEG navigates rising interest rates and construction costs by leveraging a unique de novo growth strategy, focusing on leaseholds and strategic real estate flexibility to optimize visibility and accessibility for pet owners.
Discover the vital role of strategic site selection in VEG’s expansion. Jennifer discusses how her team uses Buxton Consumer Analytics Data Insights and traditional on-the-ground research to pinpoint ideal locations, ensuring that customers can easily find and access VEG hospitals. We unpack the importance of real estate choices in enhancing the overall customer experience, balancing square footage, visibility, and accessibility to make every visit as seamless and positive as possible.
Stay ahead of the curve with insights into emerging trends in veterinary services and how VEG is adapting. With a significant increase in non-wellness clinical visits and rising pet ownership among younger adults, VEG is poised for continued growth despite industry challenges. From innovative training programs like the VEG NERD initiative to maintaining a robust company culture, Jennifer provides a detailed look at how VEG attracts and retains top talent, ensuring they continue to provide exceptional care for pets everywhere. Don’t miss Jennifer’s personal journey within VEG, highlighting the importance of strategic site selection, market research, and the evolution of roles in driving the company’s success.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
What if you could harness the power of fundraising to scale your healthcare organization? In this episode, we welcome Bridger Pennington, a renowned fund manager and founder of The Ugly Unicorn and Sunlarge Partners, to share his incredible journey from college entrepreneurship to the helm of multiple successful investment funds. Pennington, who also co-founded Fund Launch, illuminates the path to mastering fund creation and management, shedding light on strategies that have helped thousands in the industry.
We dissect the critical elements of risk-return analysis, discussing how to evaluate investments through scenario testing and identifying both controllable and uncontrollable risks. Bridger explains how securing high-profile partners, like Elon Musk, can transform investment opportunities from ordinary to exceptional. We delve into the nuances of building a strong team and the essential skills needed in fund management, emphasizing the importance of continuous self-improvement and effective public speaking.
Finally, Bridger offers a compelling perspective on integrating spirituality into business, illustrating how faith and future-oriented thinking can profoundly impact decision-making and personal growth. Through his own experiences, Bridger demonstrates the interconnectedness of various aspects of life and shares invaluable insights on spiritual guidance in business decisions. Tune in for actionable strategies and inspiring stories that can help scale your healthcare organization and beyond.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Can the medical aesthetics industry learn from the hair care world? Discover how client loyalty to individual practitioners is transforming both fields. Join us as we chat with Shannon Seeberan, head of business development at Cloud Med Spa, about her journey into medical aesthetics and her partnership with founder Iggy Fanlo. Together, they’ve crafted an innovative business model that empowers aesthetic practitioners to become entrepreneurs, providing them with the freedom to manage their own schedules, pricing, and transactions, all while sidestepping traditional overhead costs.
Explore how Cloud Med Spa's platform offers a unique opportunity for existing medical and dental practices to monetize underutilized spaces. Shannon explains how the COVID-19 pandemic has accelerated the demand for such entrepreneurial ventures, particularly among nurse practitioners and RNs. This system allows independent aesthetic practitioners to rent these spaces, creating a win-win scenario akin to an Airbnb for medical facilities. Additionally, we highlight Van Sanity's efficient scheduling model in Boston, which maximizes practitioner capacity across multiple locations.
Private equity’s interest in the booming medical aesthetics space signals a lucrative future. We discuss the importance of enabling practitioners to scale their businesses independently without compromising control or ownership. Shannon provides insights on how Cloud Med Spa supports clients through shared resources and continuous collaboration, ensuring their success. Tune in to learn more about this transformative approach and how it’s revolutionizing the medical aesthetics industry.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
How can mastering status dynamics transform your negotiation success? Join us as we uncover the secrets with Oren Klaff, author of "Pitch Anything," who shares his invaluable strategies for maintaining alpha status in high-stakes negotiations. Learn how to sidestep the beta position and navigate complex deal behaviors, especially when dealing with challenging personalities. This episode is packed with practical advice tailored for healthcare executives seeking to scale their operations while effectively managing status dynamics.
Ever wondered how to level status gaps and foster genuine professional interactions? Our conversation includes a gripping account featuring Anthony Scaramucci, where disrupting the usual status dynamics led to unexpected results. Through this and other stories, you’ll discover how to avoid transactional stereotypes and build more meaningful relationships based on mutual respect. We dive deep into why mastering these status dynamics can lead to better rapport and more authentic connections.
Looking to sharpen your negotiation skills across various industries? We break down effective strategies for real estate, healthcare, and more, emphasizing confidence, reliability, and the pitfalls of retrading. Additionally, get ahead with our 2024 economic outlook and investment strategies as we explore sectoral shifts and the impact of high-interest rates. Equip yourself with the insights you need to make smart investment decisions and close deals with certainty and trust. This episode is your guide to transforming your approach to business negotiations and investment planning with expert knowledge and actionable advice.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Join us as we unravel the extraordinary journey of Neil BalaNeal Bawa, dubbed the "mad scientist of multifamily." Ever wondered how someone transitions from a network engineer to a successful entrepreneur who sells their company for a record-breaking multiple? Neal shares his story of resilience and strategic pivots, from weathering the 9-11 downturn to creating a booming healthcare education division. Learn how leveraging virtual assistants and data science can push your business to new heights, all while maintaining high profit margins.
Curious about how real estate investments can help alleviate those hefty tax burdens? Neal walks us through his initial steps into real estate, using cost segregation and depreciation to optimize earnings. By meticulously analyzing data, he didn't just find the best cities for investment; he created a popular Udemy course that now boasts over 12,500 students. Discover how innovative problem-solving, hiring virtual assistants, and unique marketing approaches can make even recession-era investment decisions lucrative.
Managing virtual assistants effectively is an art, and Neal breaks down his stringent monitoring practices to ensure productivity. From software tools to strategic hiring practices, you'll learn the do's and don'ts of building a reliable virtual team. Whether it's preventing double-dipping or favoring certain hires for communication roles, Neal’s insights are invaluable. Don't forget to check out the comprehensive, free course "10X Your Business Through VAs" on MultifamilyU.com for a detailed guide on recruiting, training, and managing virtual assistants to supercharge your business productivity.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on an insightful journey into the realm of healthcare M&A, where the market's ebb and flow dictates the future of dental practices and real estate. With Brian Colao, a luminary in the dental sector, by my side, this episode peels back the layers of complex transactions, revealing how economic currents like rising interest rates and geopolitical unrest shape this nuanced industry. If you're curious about how larger deals are taking a backseat to the tenacity of smaller ventures, or how real estate holds up against financial oscillations, this discussion will leave you equipped with a wealth of understanding.
Navigating the waters of partnership acquisitions can be fraught with unseen hazards. We pour over the importance of cultural synergy and talent retention – the lifeblood of any thriving dental practice looking to merge or be acquired. The conversation shifts to a cautionary tale, urging due diligence before joining forces with any Dental Support Organization, lest your equity risks dissolve into nothingness. Moreover, the episode sheds light on the opaque dealings behind distressed DSOs and the imperative of a cultural and financial match to ensure the prosperity of your life's work.
Lastly, we cast our gaze toward the horizon of group dentistry and healthcare real estate, predicting that consolidation trends, while momentarily slowed, are far from over. Drawing a parallel to the airline industry's consolidation history, we muse over the robustness of dentistry and its recession-proof nature, contrasting it with the fluid M&A market. As physical spaces continue to be a cornerstone of healthcare, the episode promises to leave you contemplating the future of in-person medical services and the enduring demand for healthcare real estate.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on a journey with the visionary Dr. Hunter Smith, CEO of GPS Dental, as we uncover the keystones of scaling a dental service organization to an impressive 75 locations. In a candid conversation, Dr. Smith shares the insider's playbook on real estate strategies, the often underappreciated complexity of balancing clinical excellence with the intricacies of accounting and marketing, and the underestimated power of partnership in an industry prone to solitude.
Strap in as we tackle the real-talk of group dentistry's financial challenges, operational efficiency, and the creation of a durable business model, especially when economic tremors shake the foundations. Dr. Smith's evolution from dentist to business mogul is a masterclass in leadership, team building, and adaptation. Managing the dance between accessibility and personal endeavors, he reveals how a focus on mergers and acquisitions can fuel growth amidst the headwinds of macroeconomic shifts. For a compelling blend of professional growth tales and actionable business insights, this episode is your front-row seat to the industry's pulse.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on a journey through the intricate landscape of healthcare real estate with Mark Reddinger, a seasoned expert whose two-decade career has shaped the urgent care revolution. From his early days dealing with Florida's healthcare regulations to his current role at Unified Autism Care, Mark's narrative is a testament to the power of strategic growth and operational excellence. His success in launching new clinics every 90 days with Solantic Urgent Care and St. Vincent's First Care is not just a tale of expansion, but a masterclass in the delicate balance between savvy site selection and delivering top-notch clinical care.
As we converse with Mark, we uncover the secrets behind transforming common retail spaces into thriving urgent care clinics. Remember the old Blockbuster video store down the street? It could have been your neighborhood go-to for medical care, thanks to visionaries like Mark. He shares the critical factors that elevated locations and partnerships, including those with renowned hospital networks, propelling patient loyalty and solidifying a business's foothold in the competitive healthcare market. This episode is a goldmine for anyone fascinated by the intersection of healthcare services and prime real estate.
Finally, Mark opens up about his heartfelt venture, Unified Autism Care, a beacon of hope for families navigating the challenges of autism. We delve into the significant rise in autism prevalence and the impact of early diagnosis, while also exploring how real estate plays a crucial role in delivering specialized care. Mark's dedication to creating accessible, family-friendly centers for intensive therapy is as much a strategic move as it is a mission to enrich lives. For those intrigued by the business of care and the care in business, this episode is a profound look into an industry leader's pursuit to make a meaningful difference.
Get in touch: Email mark@unifi.care
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
From a pivot out of the rental car industry to a visionary in dental solutions, Greg Essenmacher of GNA Consult joins me, Austin Herr, to share his trailblazing journey in revolutionizing full arch dental procedures. Together, we unravel the emotional impact of these transformative dental treatments on patients and the unique strategies Greg employs to scale healthcare practices through savvy real estate maneuvers. Witness the power of building meaningful industry relationships and how they've become Greg’s secret weapon in carving out success in the competitive world of full arch dentistry.
Strap in for a deep dive into the business of smiles as we scrutinize the marketing finesse required to integrate fixed full arch dentistry into a thriving practice. We dissect the direct-to-consumer approach, emphasizing the necessity of nurturing trust and the substantial investments involved in patient acquisition. The conversation spotlights the delicate balance of amplifying clinic revenue without overshadowing the essence of general dentistry and the critical systems needed to curate a seamless patient journey – from lead to final consultation.
Lastly, we explore the patient's path post-commitment, where third-party financing and follow-up strategies come into play. Greg imparts his wisdom on keeping patients engaged during the interim of decision and surgery, addressing the unique obstacles for those new to dental care or with fragmented dental health management. Insights into how Dental Service Organizations (DSOs) weave full-arch procedures into their fabric provide a glimpse into evolving market dynamics. Peek behind the curtain of full-arch therapy and see what it takes to fortify a dental practice's approach to not just change smiles but to elevate its market presence to unprecedented levels.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Discover the unexpected roads that lead to triumph in the veterinary industry as we sit down with Dr. Bill Wagner and Dzmitry Miranovich, the brilliant masterminds behind the rapid expansion of Associated Veterinary Partners. Dr. Bill shares the serendipitous moment his life took a turn from physics to animal care, while Dmitry reveals how their collective vision has transcended traditional business models, boasting phenomenal growth across multiple states. Their story isn't just about career evolution; it's a testament to how dynamic personal journeys can forge new pathways in the veterinary landscape and beyond.
Venture into the world of VetMed through the eyes of entrepreneurs and investors, where the love for animals meets robust market analysis. We unfold the layers of what makes this sector a magnet for investments, from its recession-resistant nature to the surging pet ownership rates. Hear firsthand how the industry's progression mirrors human healthcare, with cutting-edge advancements and escalating professional compensation. The dialogue also probes into the complexity behind practice sales, challenging the notion that passion cannot coexist with lucrative business prospects.
Concluding our intimate chat, we reflect on the weighty responsibilities shadowing veterinarians and the future that shines ahead. As our guests highlight the immense emotional toll of this profession, they also shine a spotlight on vital support systems like Not One More Vet, advocating for mental health in this field. It's a conversation that balances the gravity of the subjects at hand with a positive outlook, leaving us eager for the next installment of thought-provoking dialogue. A heartfelt thanks to Dr. Bill and Dmitry for granting us a glimpse into their world, and to you, our listeners, for embarking on this journey with us.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on a journey with Joe Williams, the visionary co-founder of Keller Williams Realty, as he shares the gripping tale of his ascent from personal tragedy to real estate stardom. His candid revelations highlight the profound realization that the wealth of relationships often surpasses the pursuit of riches, especially as we mature. Through his narrative, we uncover the profound life lessons that have not only paved the way for his business triumphs but also shaped the very essence of his personal growth and entrepreneurial spirit.
This episode peels back the curtain on the transformative strategies that catapulted Keller Williams to the pinnacle of the industry, with Joe himself detailing the 'stable table theory' and the pivotal shift towards empowering agents. My own unexpected entrance into real estate, spurred by a serendipitous Texas law, sets the stage for a discussion on the innovations that revolutionized the business model, from commission capping to profit sharing. Together, we dissect the blueprint for creating a dynamic culture of mutual recognition and support that drives a company to soar to new heights.
As we draw our conversation to a close, Joe imparts the four key pillars that form the bedrock of a successful company culture, and we traverse the intricate dance of regional market expansions, gleaning lessons from his national business adventures. We conclude with reflections inspired by centenarians, contemplating the enduring impact of our legacies, the significance of the lives we touch, and ponder the economic trajectories that lie ahead. Join us for an episode that's a goldmine of entrepreneurial wisdom, personal fulfillment, and the resilient spirit that triumphs over adversity.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Unlock the secrets of exponential growth in healthcare as I, Austin Hare, sit down with the financial mastermind Nathan Chitty, CFO of Operation Dental. This episode promises to reveal the strategic maneuvers and real estate acumen that transformed a humble dental office into a 14-location success story. With Nathan's guidance, we navigate the intriguing journey of Operation Dental, from initial expansion hurdles to the unexpected benefits of AI in optimizing healthcare quality. Learn how a book like 'The Driven Dentist' can reshape your understanding of branding and why Nathan's own career shift is a tale worth hearing.
Prepare to be captivated by the wisdom of prioritizing long-term relationships over fleeting profits, a philosophy that has been a pillar of Operation Dental's enduring success. We dissect the dangers of shortsighted business tactics and illuminate how embracing stability and thoughtful site selection can lead to remarkable profitability, as evidenced by our standout semi-rural practice. As our conversation draws to a close, you'll find out just how accessible Operation Dental is for further exploration and professional connection. This episode isn't just a behind-the-scenes look—it’s a blueprint for thriving in the dynamic world of healthcare.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Have you ever felt the spark of entrepreneurship ignite from a simple childhood dream? Ray Caruso, CEO of Lone Peak Dental Group, certainly has, and he's here sharing the tale of turning his young longing for a pair of Nikes into steering a leading dental support organization. From flipping burgers to orchestrating a strategic recapitalization with BlackRock Impact Opportunities Fund, Ray's narrative is an invigorating ride through the lessons of leadership and the stamina required to thrive in today's healthcare landscape.
Ray dissects the impact of early work experiences on his professional ethos. This episode isn't just about reminiscing over past jobs; it's about extracting the profound life lessons that shape us. Ray's transition from military life to mastering the dental industry, influenced by family wisdom, underscores the crucial decisions we face in sculpting our careers. It's a masterclass in recognizing opportunity, even when it's disguised as a challenge, and the tenacity needed to seize it.
For all the dental professionals out there, the episode crescendos with Ray's valuable insights on positioning a dental practice for a lucrative sale. Understanding the financial assessment, navigating broker relationships, and the complexities of profit and loss are all under the microscope. Whether you're dreaming of transforming your practice into a Dental Support Organization (DSO) or pondering a sale, Ray offers a treasure trove of advice to ensure your business transition is not just successful, but also satisfying. Join us and unlock the wisdom that could elevate your entrepreneurial journey to its peak.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Have you ever found yourself at a career crossroads, unsure which path to take? Dr. Jamie Parks, CEO of American Hearing and Audiology, joins us to narrate her journey from an uncertain undergrad to a business maven, operating 20 clinics across several states. Our conversation dives into the moments that shaped her audiology career, from her initial steps in clinical work to the leap into sales, and circling back to her true passion in private practice. Alongside this, Dr. Parks unveils the transformative impact marketing and a relentless pursuit of independence had on her growth, proving that a mix of vision and grit can lead to doubling revenues and successful entrepreneurship in healthcare.
When we think about business, we don't often pair it with the intricacies of forming partnerships, but Dr. Parks walks us through the complex dance of expansion. She shares her insights on building a robust team dynamic, the art of structuring partnerships, and the crucial elements of trust, communication, and aligned goals. Whether discussing how to create a solid operating agreement or leveraging each other's strengths for effective problem-solving and decision-making, this episode provides a playbook for entrepreneurs looking to scale and solidify their ventures through collaborative efforts.
Lastly, we tackle the strategies that ignite business growth and keep the engine running smoothly. Dr. Parks elaborates on the use of affiliate programs, consulting services, and the pivotal role of cultural leadership in nurturing a thriving workplace. We also cast a wider net to examine the audiology industry's trends, the role of private equity, and the strategic importance of vendor relations. For those hooked on the narrative of American Hearing and Audiology or curious about the commercial side of audiology, Dr. Parks points you towards resources and opportunities to engage further and perhaps even find the ideal location for your practice through Leaders Real Estate. Join us for an episode rich with actionable insights for both the budding entrepreneur and the seasoned business leader.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on a transformative tale with Dr. Henry Ernst, who climbed from humble beginnings at a fish market to the pinnacle of financial and entrepreneurial success in the dental industry. Through anecdotes and insights, Dr. Ernst maps out his remarkable journey, highlighting the pivotal role of hard work, mentorship, and the often-overlooked power of passive income. His story isn't just motivational—it's a practical guide to navigating the complex waters of building not just a career, but a legacy.
In the heart of our episode, we unlock the secrets behind starting and nurturing a flourishing dental practice. Dr. Ernst, once a high school jock with dreams as big as his athletic prowess, breaks down the essential strategies that morphed his career ambitions into a reality. From the strategic choice of location to extending office hours and offering niche services, our conversation reveals how these smart decisions can differentiate a dental practice in a saturated market. For anyone considering a venture in the healthcare industry, Dr. Ernst's firsthand experience is your roadmap to success.
But it's not all about the grind—there's gold at the end of this entrepreneurial rainbow. We dive into the financial wizardry that Dr. Ernst employed to expand his wealth beyond the confines of his dental empire. From significant practice sales to shrewd investments in diversified portfolios, he shares the switch to passive income streams that solidified his financial freedom. Real estate investment strategies, the resilience of certain markets, and the anticipation of investment opportunities arising from market shifts—this episode is the blueprint for those ready to pair their passion with business savvy for extraordinary results. Join us and let Dr. Ernst inspire your next bold move.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark on an entrepreneurial odyssey with Mark Geiger, the trailblazing co-founder of Revolt Healthcare Alliance, as he recounts the amusing tales of his early business endeavors and unveils the nexus of innovation and healthcare. From his whimsical start with lost golf balls to importing candy, Mark's journey is a testament to the entrepreneurial spirit that eventually led him to challenge the conventional healthcare model. Our discussion illuminates how Revolt Healthcare Alliance aids employers in slashing healthcare costs, providing a beacon of hope for those drowning in the financial quagmire of traditional health plans.
Imagine a world where your healthcare operates as smoothly as your Spotify playlist. That's the revolutionary potential of Direct Primary Care (DPC) models and "not so supplemental" health plans, topics we dissect with Mark's expert perspective. These emerging parallel healthcare economies could be the key to unlocking affordable, efficient care. We take you through the intricacies of these models, the substantial benefits for employers, and how embracing such innovations could signal a seismic shift in an industry ripe for change.
As the conversation wraps, we tackle the truth behind the broken healthcare system and the pioneering solutions peeking through the cracks of the status quo. Mark sheds light on the predatory nature of the healthcare industry and how performance health plans offer a lifeline, aligning with employers' interests to trim the financial fat. Your takeaways from our chat with Mark Geiger won't just be a glimpse into the mind of a healthcare rebel—they'll be an arsenal of insights that could transform how you approach healthcare in business, and perhaps, lead you on your own path of industry disruption.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Have you ever wondered how a small dental practice can explode into a 12-location success story? Dr. Brad Hughes, the brainpower behind Vision Dental's remarkable growth, sits down with us to share his journey from starting in Indiana to becoming a titan in the dental service organization (DSO) space. His story unfolds like a novel, where personal trials, such as a wife’s health scare, intertwine with professional triumphs, shaping a CEO who values the heartbeat of his company as much as its bottom line.
As we peel back the layers of Dr. Hughes' strategic expansion, he illuminates how core values are the lifeblood of Vision Dental. These principles aren't just posters on the wall; they're the drumbeat to which every decision and action aligns. From embracing competition to igniting daily tasks with passion, Dr. Hughes gives us a masterclass on how these values are critical for steering through an ever-changing economic terrain. And for those balancing the scales of work and home, he offers a candid look into the art of managing a sprawling empire without losing sight of family, revealing the personal systems and mindset shifts that keep him grounded.
Lastly, Dr. Hughes turns the spotlight onto the nuts and bolts of healthcare entrepreneurship: the criticality of location. He shares his chess-like approach to selecting spots for new practices, explaining why paying a premium for visibility can be a shrewd move. We also unpack the financial intricacies of real estate in the healthcare world, offering up nuggets of wisdom for those considering commercial investments. With Dr. Hughes' guidance, listeners gain a roadmap to scaling their healthcare ventures with poise and acumen.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Could the tides be shifting beneath the foundations of commercial real estate? This episode sails into the heart of how interest rates, intertwined with the tentacles of election year politics and burgeoning national debt, are reshaping the commercial property seascape. We navigate through the Federal Reserve's monetary policy whirlpools, dissecting their strategies and unintended consequences, such as inflation's sneaky currents which may force the hand of higher rates. With a lens on the Fed's recent maneuvers, including the pause on rate hikes, we chart the potential courses this might set for various real estate classes, with particular attention to the resilience and vulnerability of multifamily spaces in these choppy economic waters.
Amidst a landscape where residential real estate prices stubbornly cling to stability and the scarcity of housing persists, we anchor down to examine this paradox. The episode probes beneath the surface of low unemployment and interest rates, unveiling why homeowners are anchoring down their properties, turning mortgages into treasure chests in an undersupplied market. We then steer toward the sturdy vessel of healthcare real estate, exploring why it remains buoyant even when economic storms rage. I share my compass on investment strategies, navigating through election cycle winds and speculating on the course back to the low-interest rate harbors of yesteryears. Hoist your sails and join us for this insightful voyage into real estate's shifting tides.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Imagine embarking on an entrepreneurial odyssey, navigating the complex terrain of healthcare and real estate, all the while maintaining the essence of patient care. That's precisely the narrative Dr. Himesh Kana, Managing Partner for Dental Depot DFW, shares as we walk through his transformative journey from his beginnings in a small Oklahoma motel to spearheading a dental empire. His tales of early business acumen, cultivated in a family-run establishment amidst economic highs and lows, provide a backdrop to the conversations that unfold about scaling practices and mastering customer service.
Our dialogue with Dr. Kana traverses the evolution of Dental Depot, revealing how a single dental office blossomed into a robust Dental Support Organization. The discussion illuminates the organic growth and strategic decisions that have become the cornerstone of their success, including leveraging real estate insight and nurturing internal talent into leadership roles. Dr. Kana also casts light on how embracing technological advancements like AI can revolutionize patient experience and operational efficiency in an industry often bogged down by administrative challenges.
Beyond the stories of growth and innovation, we dissect the framework of Dental Support Organizations with Dr. Kana, dispelling myths and uncovering the myriad benefits they offer to dental professionals. He shares how Dental Depot fosters a culture of mentorship and collaboration, allowing dentists to excel clinically while shedding the weight of administrative tasks. The discussion extends to the strategic real estate moves and market adaptations that keep Dental Depot a step ahead, painting a future where agility and investment in people make the difference in a rapidly evolving landscape. Join us for an episode that not only charts the course of a thriving dental practice but also serves as a beacon for healthcare ventures aiming to flourish in any economic weather.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
When reflecting on 2023, I felt a sense of peace coming into the new year for the first time since I can remember. Normally my thoughts go something like, "I can't believe it's already the end of another calendar year. I didn't do this, or finish that, or accomplish all these goals..etc."
The reason I felt better than normal this year was because I chose to be happy about the progress I made even though my goals were incomplete.
It's easy to focus on all the things I want to do or all the things I didn't do, which is a recipe for guaranteed discontentment. So, for 2024 I am focussing on micro wins each day and enjoying the process. This podcast is riddled with metaphors and stories that drive that point home, hope you enjoy.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Embark with me on a transformative journey through the cutting-edge intersection of digital assets and real estate investments. My own venture into tokenization has unveiled a world where smart contracts on the blockchain are redefining what it means to invest in property funds. In this episode, I'll guide you through how these tokenized funds are opening up the market to a wider range of investors, while enhancing liquidity and expediting property transactions. You'll get an insider's look at the challenges and triumphs of launching a tokenized fund, and how this revolutionary shift is set to reshape the investment landscape.
We'll also delve into the exciting potential of tokenization in providing new liquidity options for investors. Imagine having the ability to sell tokens on secondary markets with ease, or use them as collateral for borrowing—all while potentially earning returns. I discuss the nuanced difference between asset-backed tokens and speculative cryptocurrencies, and the critical role of regulatory frameworks in fostering trust in the crypto space. Join me as I share how our fund is embracing asset tokenization to democratize investment opportunities and pave the way for a future where the myths surrounding cryptocurrencies dissolve, opening doors to innovative investment methods. If commercial real estate and cutting-edge investment strategies pique your interest, this episode is a treasure trove of insights.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Unravel the impact of the Fed and interest rate changes on the healthcare industry in part two of our fascinating discussion with Ryan Mingus from Tusk Partners. Brace yourself as we demystify how market fluctuations affect deal size and multiples, along with the influence of employment contracts on business owners. Despite the market's unpredictability, we underscore the importance of persisting with opportunities and not falling into the trap of attempting to time it all.
Transitioning from the healthcare sector to the dental industry, we put the spotlight on how EBITDA and geography play a pivotal role in determining multiples. Depending on the size of your EBITDA, the range of multiples your business can expect is set. Be aware, though, that once you hit the $5 million mark, the returns start diminishing. Geographic location, too, impacts multiples, with states like Arizona, Texas, and Tennessee emerging as hotspots due to their attractive labor policies and population growth. Lastly, we shed light on the stark contrast in multiples between high-profile cities and mid-tier ones, highlighting the role of population growth in upping a business's value.
find out more www.tusk-partners.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Are you curious about the intersection of healthcare and real estate? Join us in part one of our interview as Ryan Mingus, managing director at Tusk Partners, unravels the complexities of this dynamic sector. We traverse the journey from his humble beginnings in dentistry to his first-hand experiences of the Great Financial Crisis and COVID-19's impact on healthcare. The intricate dance of private equity, mergers, acquisitions and how they sculpt the healthcare landscape will be laid bare before you. We'll also take a detour to 2008, examining the parallels between then and now.
Brace yourself as we plunge into the fascinating dynamics of economy and dentistry. Discover how 2021's low interest rates and high demand for adult orthodontics spurred the industry, only to be thwarted by rising interest rates in 2022. We dissect the repercussions on DSO valuations, and the ripple effects on deal structures and commercial real estate sales. Through it all, find out how sellers are holding out and what the future may hold for price stabilization. So, fasten your seat belts for a thrilling exploration of healthcare real estate.
www.tusk-partners.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
We're about to embark on an enlightening journey with our guest, Gil Messer. As the Chief Operating Officer at the Dermatology Specialist, Gil's experiences in the healthcare industry are truly inspiring. From his early exposure to healthcare due to severe asthma, to his instrumental role in expanding CityMD from 20 to 120 locations, Gil's passion for improving access to quality healthcare is evident.
Throughout our conversation, we uncover the strategies Gil has implemented to navigate growth and analytics in healthcare. We discuss the importance of understanding all facets of the healthcare business, and how Gil has used robust analytics and data to guide site selection, focusing on density, insurance mix, and accessibility. Hear about how he has used his knowledge and expertise to maximize operational efficiency, and the lessons he's learned along the way.
We conclude our chat by discussing the economic aspects of healthcare. Gil shares his valuable insights into how to build a recession-proof business, and how to make it attractive to PE partners. We discuss the importance of having multiple sites, advanced technology, and a robust infrastructure not reliant on any one key person. We also delve into historical cycles and economic trends, providing invaluable advice for any healthcare professional or investor wishing to build a successful business from the ground up. Don't miss this fascinating conversation with our guest, Gil Messer.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Ever wondered how cultural exposure can shape your business perspective? Get ready to learn from Andrew Tralongo, president of T Management and co-founder of Good Hope Transitions. Raised amidst the cultural melting pot of New York, Andrew takes us along his career journey, which interestingly landed him in the dental industry. He shares compelling insights about managing healthcare organizations and unlocking their potential through innovative real estate strategies.
Andrew's experience extends beyond managing businesses; he reveals intriguing aspects of underwriting and diligence in the dental office M&A landscape. He underscores the importance of aligning business cultures and goals, giving us a candid recount of his personal experiences and failures. We also dive into the tricky terrain of business compatibility, sharing firsthand encounters with challenging business owners, and emphasizing the need to pay attention to red flags.
As we move towards the end, we discuss the dynamic world of dental industry acquisitions and valuations, contrasting the two strategies: building a company to last versus building to sell. We touch on employee retention and customer experience, considering their integral role in the health of dental service-based businesses. And as a cherry on top, Andrew shares some of his favorite business books and their biggest takeaways. Get ready for a thought-provoking episode filled with invaluable business insights. Join us!
Get in touch with Andrew: andrew@tmanagement.net
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
This episode illuminates the fascinating journey of John Demma, currently the COO of Lightwave Dental, who parlayed his childhood lessons from his parents' restaurant into an impressive career. We get to hear about his early days, his rigorous work ethic shaped by his upbringing, and how he managed to maneuver his way from managing a mattress store chain to making waves in the dental industry.
In a world where success is often perceived as linear, John Demma's story is a testament to the power of pushing limits and embracing change. His transition into healthcare offers insights into the consolidation of the veterinary industry, the effects of interest rate hikes on acquisitions, and the current state of the real estate market. He also shares his experiences in growing Lightwave Dental, flipping from 80/20 acquisitions to 20/80 DeNovo's, and the vital role of having the right team to bridge the gap between entrepreneurs and investors.
This episode doesn't only revolve around business growth and market trends. It also takes a peek inside John's appearance on American Ninja Warrior, giving us a glimpse of his competitive side and his approach towards hiring decisions. It's a testament to his perseverance and his willingness to fight for the right person. Furthermore, we delve into John's passion project, Lightweight Dental, and how he managed to make it a success despite being a newcomer in the field. This episode is a rich blend of real-life stories, lessons on resilience, and a peek into the dynamic world of the dental industry. Listen in to gain a unique perspective on business growth, team building, and successfully navigating change.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Get ready to join us on an enlightening conversation with Richard Wilson, the mastermind behind the Family Office Club and Billionaires.com. His incredible journey from high school entrepreneur to family office consultant, and ultimately to a capital-raising guru will inspire anyone with a spark of ambition. Richard's unique perspective on navigating the volatile capital markets and structuring deals is a goldmine for those seeking to make their mark in the business world.
In the heart of the podcast, we delve deep into the 2008 recession, exploring how Richard's nimble business model helped him weather the storm. You'll discover how an unprecedented housing shortage has paved the way for a new generation of savvy investors. Listen closely as Richard unravels the secrets to identifying high-yield opportunities in diverse asset classes and the critical importance of adding value to investments.
As we traverse these uncertain times, we discuss how the pandemic has reshaped the real estate market, necessitating inventive financing strategies. Richard highlights the untapped potential in the medical aesthetic space and champions the idea of consolidating numerous medical practices to supercharge exit potential. Lastly, you'll gain exclusive insights into Richard's Billionaires.com project and his innovative strategy of delivering value first in securing interviews with billionaires. This episode is a treasure trove of wisdom, whether you're intrigued by real estate investment, capital raising, or the mystifying family office space.
Register for the family office summit Dec 4th -7th: familyoffices.com
Get in touch: richard@familyoffices.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Can you imagine the bold leap from law school to launching your own legal firm? Our guest for today, Ali Oromchian, the founding attorney of Dental and Medical Council and CEO of HR for Health, walked this exact path. Sharing his compelling journey, Ali eloquently unpacked how he evolved from a law student to a passionate advocate for young healthcare professionals. Join us as he guides us through the labyrinth of private practice, shedding light on the return on investment it offers, despite the looming cloud of student loans.
Ali and I went deep into the essence of teamwork in growing a private practice and bust the myth that success hangs entirely on one individual's shoulders. We explored the terrain of equity distribution and dove into the pros of maintaining individual companies for multiple practices. The conversation morphed into the challenges of practice expansion and navigating the expectations that come with such decisions. Ali shed light on the importance of comprehending what drives individuals and the potential pressure that comes with taking on new roles.
As the conversation advanced, we ventured into the realm of private equity in healthcare. We discussed the pivotal role of consistent growth, risk minimization, and value maximization. Ali’s insightful perspective on private equity in healthcare was encapsulated in the discussion of unwritten benchmarks for selling a business and ways to maximize value. So, tune in to this enriching exchange brimming with valuable advice and insights from Ali, aimed at empowering you in your professional journey, be it in the world of private practice or private equity in healthcare.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Join us with John Bergano, founder and CEO of Aesthetics Card, as we explore the world of medical aesthetics. Tapping into his background in luxury sales and marketing, John and his wife were able to transform a salon studio space into a tranquil aesthetics practice. Their story illustrates the importance of creating a unique value proposition for clients and navigating the demanding space of medical aesthetics.
We dive into the innovative strategies John and his wife utilized when starting up, including designing brochures and going door-to-door to spread the word. Listen to how they read market indicators and prepared for an eventual exit from the business. The episode also ventures into the challenges of raising capital in the medical aesthetics space, the importance of excellent customer service, and the role of team management.
In our conversation, John sheds light on the significant learning curve they experienced in managing cash flow and expenses. They leveraged promotions, flash sales, and discounts to boost cash inflow and product movement. The discussion also revolves around the macro factors considered during the sale of their medical aesthetics practice, and gives a snapshot of the current state of the economy and the retail market. This episode is a wealth of information for anyone looking to understand the intricacies of starting and managing a medical aesthetics practice. So grab a cup of coffee, sit back, and enjoy this insightful conversation with John Bergano.
Get in touch: aestheticscard.com john@aestheticscard.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Picture this: a 22-year-old convincing his father to embark on a real estate investment journey with him. That's the inspiring story of our guest, David Phelps, CEO and founder of Freedom Founders. In our time together, David delves into the fascinating landscape of his real estate investing journey, from buying his first property to dealing with the turbulence of fluctuating interest rates.
Expect a deep dive into the strategies David used in scaling his business, creating a mastermind group that bridged the gap between investors and business owners. Get insights on how he navigated the murky waters of the 2008 market, and how he structured deals to return up to 14% on investments. You'll also learn about the downsides of traditional retirement accounts and why it's critical to have control over your financial future. Intrigued yet?
As we wrap up, we shine a light on the current real estate market. David shares his perspective on debt financing versus equity investments, the stagnation of real estate prices, and the importance of being in control of one's financial future. If you're an investor - or aspiring to be one - this episode is a treasure trove of practical insights and hard-earned wisdom from a seasoned player in the real estate game.
Get in touch: freedomfounders.com, Freedom Founders Youtube Channel, or the Podcast: Dentist Freedom Blueprint
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Get ready to join us as we embark on an awe-inspiring entrepreneurial odyssey with AJ Peak, a dental CEO who’s been making waves in the industry. Having cut his teeth in the world of management consulting, AJ gives us a glimpse into his unique journey, highlighting how his experiences in the boardroom have served as invaluable lessons in M&A and business development. Discover how AJ transformed from a solo dentist to a multi-specialty model, and learn the strategies he employed to teach other gyms to reach their potential.
In an industry where customer experience is paramount, AJ underlines the importance of utilizing his corporate background to introduce customer experience metrics into his business. We examine the role of retail locations in the consolidation of the dental industry, and AJ sheds light on the significance of making well-informed investments for better visibility. Listen as we delve into the art of picking the right locations for dental practices, and what factors spell success in this competitive field.
Get ready to take notes as AJ imparts his wisdom on raising capital for your business. From utilizing local banks and tapping into friends and family investments to securing commercial loans and aligning with private equity, AJ has seen and done it all. Hear about his experiences and learn about the critical role of an experienced attorney in setting up the right entity structure. AJ also divulges his private equity search process, providing invaluable insights into the journey. This episode is brimming with practical advice and tips for entrepreneurs, so tune in and let AJ’s story inspire your own entrepreneurial journey.
Get in touch: aj@peakdentalservices.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Jack Bayramyan is the founder of Kids Dental Place and the founder, president, and chief clinical officer of Optimize Practice Services. Optimize Practice Services is a dental partnership organization that specializes in investment, management, and consulting. He’s also author of Extraction, where he shares a surprising new formula to systemize, scale and sell your business.
Austin and Dr. Bayramyan discuss the path that led him to founding Optimize Practice Services as well as the true costs of real estate investing.
Get in touch: OptimizePS.com
Book Title: Extraction. Available on Audible and Amazon – Buy the book here: ExtractionBook.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Robert Morrison is the founder and owner of Morrison Dental Group which is a regional mid market DSO. They are solely owned with no partners and no private equity. They start in 2011 and currently have 10 locations.
Dr. Morrison explains how playing the infinite game, meaning he plans on keeping the business in his family indefinitely, has lead to decision making processes that always focus on the long term results.
Book recommendations: Tribal Leadership, Leaders Eat Last,
Podcast recommendations: Dental Entrepreneur, Dental Economics,
Get in touch: morrisondentalgroup.com rmorrison@morrisondentalgroup.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Mike McInelly is the CEO and Cofounder of Lumio Dental. They were founded in 2014 and have 65 practices across six states.
Mike started his professional career in tech with the aspiration to quickly start his own business. After discovering the potential that the DSO model had to offer, he dove in head first.
Austin and Mike discuss the importance of culture as it relates to team building and how to make sure employees are getting the support they need. They also talk about how buying the wrong practice can set you back, as well as the importance of resiliency in building a business.
Get in touch via McInelly@lumiodental.com www.lumiodental.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. William Pena a board certified pediatric dentist, he’s the former CEO and founder of American Pediatric Dental group which he grew via de novo to seven locations before partnering with D4C.
Dr. Pena dives deep into the operations of his business, including his SOPs and accountability cadences for staff.
Buying real estate is normally a great investment, he and Austin talk about the potential trade offs.
Book recommendations: Rich Dad Poor Dad, Start with Why, The One Minute Manager
Podcast Recommendations: Joel Olsteen
Get in touch through Linked In: William Pena
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Keith Berend is senior partner at JIS Orthopedics, and chief medical development officer of Orthoalliance, which is the largest private equity backed MSO in the midwest.
Orthoalliance has over 70 locations, thousands of employees and 200 providers.
The orthopedic space is seeing consolidation at an incredible pace. PE backed healthcare groups can have a bad reputation, which is why its so important to choose a group that aligns with your values.
Dr. Berend shares his experience of going from private practice to group practice, and what the future has in store for the orthopedic space.
Get in touch:
Berendkr@jisortho.com
www.jisorthopedics.com
joinorthoalliance.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Eric Roman is a partner in the DEO, an executive coach, ex CEO, a dentist, and a family man.
Dr. Roman was attempting to build the life of dreams by growing to 10 practice locations and generating monetary success, but realized he was climbing the wrong ladder. He then swung the pendulum too far in the opposite direction before striking a balance.
In this show he shares the tools he uses to make sure he stays in harmony with his family and business.
Get $250 off the DEO Summit June 8th-10th in San Diego! code: DEO250
www.deosummit.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Trevor is the founding CEO of OMS360, which has multiple locations across 5 states.
Trevor shares how growing up on the farm helped shape him for the grind of becoming a CEO.
OMS360 separate themselves by focussing heavily on their core values, dubbed TIGER:
- Team work
- Integrity
- Growth minded
- Excellence
- Respect
- Team work
- Integrity
- Growth minded
- Excellence
- Respect
Austin and Trevor talk about headwinds and tailwinds in multisite healthcare space and his team is preparing to take advantage of economic uncertainty.
Get in touch www.oms360.com
Trevor@oms360.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Dipesh Patel is a practicing dentist, founder and CEO of Blueprint Smiles Dental Group. Currently have six locations and own the real estate for four.
One of the differentiating factors about Blueprint Smiles is that they run super lean practice, outsourcing everything and utilizing automation. Each operatory acts as is its own office.
Dr. Dipesh shares the whole story of they got started and where they plan to go in the next 10 years.
Get in touch:
dipesh@blueprintsmiles.com
www.blueprintsmiles.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Andrew Smith is Executive Director and CEO of the Association of Dental Support Organizations, the leading industry association for DSOs. Prior to that he spent 15 years in Washington DC working in government and on political campaigns.
Andrew talks about the behind the scenes process of fundraising in D.C.
He and Austin also talk about what the ADSO is doing to combat wage pressure. Technology will be a huge component of this, but how it will shape up is anyone’s guess.
Check out the ADSO annual event in Orlando, FL March 28th http://www.theadso.org/summit23
Get in touch with Andrew: asmith@theadso.org www.theadso.org
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Jennifer Hanlon is the Director of Real Estate for Veterinary Emergency Group , also known as VEG. VEG is a rapidly growing, venture-backed veterinary emergency company that grows almost exclusively by de novo, aka the hard way, and currently has 40+ locations open coast to coast.
Jennifer shares her experience as a woman in commercial real estate and gives advice for other young women looking to make a splash.
Jennifer and Austin discuss how long pipelines in commercial real estate developments mean that even though inflation has peaked, project costs have not. They discuss strategies to deal with high costs and how VEG is planning on growing in 2023.
Podcast recommendations: How I Built This,
Book recommendations: Nice Girls Still Don’t Get The Corner Office, The Four Seasons, The Four Agreements, Growing Great Employees, Around the Corner to Around the World: A Dozen Lessons I Learned Running Dunkin Donuts.
Get in touch: https://veterinaryemergencygroup.com/
Jennifer Hanlon on linked in
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
George Hariri is a dentist who graduated from Midwestern-AZ in 2018. George is known as one of the co-founders of Shared Practices. George ended up pursuing a non clinical career after buying a practice and working clinically for 2 years. Since he's co-founded Shared Practices Group, a specialty DSO that is now the nation's 2nd largest provider of GP driven full arch surgery..
George and Austin talk about macro economics, how the fed actually works, bitcoin, and how private equity has an uphill battle moving forward.
Find out More about George:
www.sharedpractices.com
Shared Practices Podcast
Billion Dollar Podcast
Doctors of Defi
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Ken Kaufman is a repeat guest on this podcast and is a partner of the DEO. He’s also president and CFO of Nuvia Dental Implant Centers, exclusively a full arch restoration implant center, which is currently growing from 10 to 20 locations.
Ken shares his experience as former CFO for Community Dental Partners and how that helped shape him for this role.
Ken and Austin discuss how de novo growth has been largely under utilized, but that could start to change. They each weigh pros and cons for M&A and de novo strategies to uncover new perspectives.
Ken’s newest book, DEOs Financial Secrets to grow Dental Organizations, helps entrepreneurial dentists make financial decisions at every step of the journey.
Facebook or Linked In: Ken Kaufman.
Check out the DEO https://deodentalgroup.com/
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Corus Orthodontists is a Orthodontic Service Organization (OSO). What started in 2019, has grown to 55 practices in 77 locations spanning 15 states and 4 provinces across North America.
A few years back Paul had a good thing going with 5 locations of his own and was ready to retire but didn’t like what he was seeing with consolidation in the industry. He decided he had a lot more gas left in the tank to build a partnership network that would do good for patients, the specialty, and the future generation of doctors.
Dr. Helpard has been able to achieve rapid growth without taking on private equity, a rarity in today’s M&A world. He shares how he did it along with his reasons for starting Corus.
Book Recommendations: Start With Why by Simon Sinek
Get in touch: www.corusortho.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Inflation, the war in Ukraine, and automation are all generating headwinds for businesses over the next decade. Fred and Austin talk about the repercussions of these issues and how adopting new technology will be the only way forward.
Fred also shares how 1-800-DENTIST grew to $50MM a year, then watched how changing technology and consumer behavior shrunk the model to almost nothing.
Fred is now the CEO of Tru Blu Social Smiles.
Check out his book: Superbold.
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The infamous dark tunnel is that period between going from two or three locations, where systems are easier to manage and funding is easier to secure, to the uncharted waters of eight plus locations.
During this time frame, it's difficult to grow because banks want to see if the CEO is capable of scaling an actual organization rather than just chair hopping.
Dr. Gardiner shares how he got into the multisite practice game and the difficulties of getting through the dark tunnel.
Get in touch: singingriverdentistry.com srdpartners.com
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Ellie Naderi has been a DSO executive for the last 15 years and currently is an advisor to multiple Private equity partners, vendor partners, and DSOs.
Being born in Iran, the human rights violations that are occurring over there are weighing heavy on her heart.
She explains we can “be their voice” by posting, using hashtags like #mainhsaamini #freeiran #iranrevolution, and tagging UN, UN human rights and Biden Administration. We also need to demand that Biden stop his seven billion dollar nuclear deal with the Islamic Republic of Iran which will only fuel their murderous, barbaric actions against their own people as well as fund Russia and terrorism in the region.
Ellie started her career as a dental hygienist and brings a unique “bottom up” approach to the private equity world..
In addition, Ellie explains how setup a DSO for the highest valuation from a private equity perspective.
Her book recommendation is The Infinite Game by Simon Sinek
Get in touch: https://www.ellienaderi.com/
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Roy Bejarano is CEO/Founder of Scale Healthcare. They were founded in Jan 2019, and focus on elevating management performance across healthcare services.
Being raised by a father who was a private equity investor before marrying into a family of physicians gave Roy a unique perspective on both worlds and paved the path for him to form SCALE.
Austin and Roy discuss Roy’s journey to founding SCALE along with the debate between growth by de novo vs acquisition.
Get in touch: www.scale-healthcare.com
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Austin Hair interviews Dr. Nick Raklios and Dr. Kolby Robinson. They started SALT Dental Collective in 2019 and now have over 50 partner locations.
They describe what its like going from dental school to 50 + locations. Dr. Raklios and Dr. Robinson both prioritize making ethical decisions over profitable ones, and they explain how that has compounded to the success of their business.
As far as real estate, they explain that they strictly rent in order to keep their balance sheets and capital ready for acquisitions.
Get in touch:
Saltdentalcollective.com
Nick Raklios and Kolby Robinson on Linked in, Instagram, Facebook
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Dr. Kartik Antani is CEO of Bergen Street Dental Management. They have three locations and have been around since 2017.
The mindset shift required to go from one to three locations requires massive adjustments in thinking and operations. Dr. Antani is chronicling his journey of the first few steps of scaling up and the change of perspective he’s seen in his organization.
He and Austin talk about how to implement procedures for holding staff accountable early on. They also talk about the trade offs in owning real estate vs re-investing in the business.
Get in touch: kantani@gmail.com
Facebook, Linked in: Dr. Kartik Antani
Dr. Kartiks book recommendation:
https://docs.google.com/spreadsheets/d/1hhMiuVB5zIj_NLIExowjH2h951W832y1Ipuy0q4q8VQ/edit?usp=sharing
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Dr. Glenn Vo is a practicing dentist, podcast host, and CEO of Nifty Thrifty Dentist.
Dr. Vo talks about his mid-life health scare that lead to his career pivot. Austin and Glen talk about how unsuccessfully scaling an organization is almost always a prerequisite for successfully scaling one.
Dr. Vo is launching a new publication focuses on professional and personal success called Dentallifestylesmagazine.com. Click the link to get signed up for free.
Get in touch via Linked in or Facebook by messaging @GlennVo
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Dr. Bradley Dykstra is the founder and CEO of my Smiles Dental Group. They started in 2018 and currently have seven locations under management.
Dr. Dykstra tells his story about how growing up on a self sufficient farm in western Michigan helped prepare him to be a multi site dental operator.
He opened his first practice in 1978 and and slowly, almost by accident, fell into the real estate game starting with his first dental building. Since then he’s focused on staying diversified as he’s grown his DSO.
Listen in to learn how Dr. Dykstra secured some off market locations. He and Austin discuss the importance of culture: how do you define it and how do you improve it?
www.mismilesdentalgroup.com
Email drdykstra@mismilesdentalgroup.com
His Book: Gateway To Your Body: How Your Smile Impacts Your Overall Health
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In this special episode, Dr. Nabil Fehmi takes on the role of interviewer and asks Austin questions about his story.
Austin started as a professional wakeboarder before opening some gyms. When he sold the gyms, he started investing in commercial real estate and training as a ninja warrior.
They talk about the cross over between athletics and business and why you frequently find that highly successful entrepreneurs have a background in sports.
Dr. Fehmi also shares how he and his wife successfully scaled two multisite dental groups. You can find her episode on our show here: Dr. Maryam Beyramian on Commercial Real Estate Secrets
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Gary Bird is the CEO and founder of SMC national, a dental digital marketing company that just made the inc 5000 list for the second year in a row for being one of the fastest growing companies in America.
Austin and Gary discuss the the difficulties of using social media to grow your business, difference between picking the recessed office building vs prominent retail building, and what Gary would personally do if he was CEO of a DSO.
Get in touch:Thegarybird on all social media.
Visit Smcnational.com
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Dr. Charles Moser is a DEO MAP implementer and executive coach. After graduating dental school, his life took a very different trajectory than what he originally thought.
Dr. Moser draws on his experience from running an Ironman and explains how it has helped increase his success in business.
Additionally, he shares some tactics that he teaches in the DEO map implantation course that can immediately help improve communication with your team.
Dr. Moser is hosting a leadership for Profitability Summit in Texas Nov 10th and 11th. Find out info here
get in touch: charlesmoser@charlessmoser.com
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Dr. Scott Leune is the founder of Break Away Seminar and Dental Whale, was named one of the 30 most influential people in dentistry, has built and sold and helped others build and sell hundreds of practices. This is part one of a two part series.
Dr. Leune’s story has four parts
- Wheel chair bound, building three dental locations, and selling
- Reinvesting the profits to grow a seven location practice and selling
- Consulting for a group to help grow to 150 locations
- Supporting 20,000 locations with his systems
Austin and Dr. Leune talk about the importance of site selection and how that is just step one of a multistep process to success. Dr. Leune explains how they help their doctors get to $2 million in collections with only 1650 sf of space.
Austin and Dr. Leune also talk about the importance of utilizing systems and check lists in both business and personal life.
Get in touch: breakawayseminar.com
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Jeff Staser is CFO and director of strategic planning at Straine Dental Management. They currently have 32 locations and set to close on 10 more in two months.
Jeff grew up next door to Rick Workman who founded Heartland Dental, which has over 1,000 locations today. Dr. Workman hired Jeff straight out of college to work for him AND live with him as a roommate. Jeff goes on to tell the story of how they scaled Heartland.
Jeff and Austin discuss what it takes to be an investor and the importance of diversifying your portfolio. Time in the market always beats timing the market.
Jeff plans on growing Straine Dental in way that benefits all the doctor partners.
Get in touch:
Cell 217-821-5100
Email: jeff@straine.come
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Jeremy Garner is Chief development Officer at Southern Orthodontic partners. When Jeremy started here two years ago they were at 4 doctors and 8 locations. Since then, they have seen explosive growth and currently have 60 locations and 55 doctors across ten states.
SOPs mentality is to focus on one thing alone in order to be the industry leader, and that one thing is orthodontics.
Jeremy talks about real estate bottlenecks and how to overcome them. Jeremy and Austin also address the state of the overall M&A market.
Get in touch: jgarner@southernop.com
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Mick Janness is the CEO and cofounder of Oakpoint. They started from scratch in 2019 and already have 32 locations with 500 employees. They’ll be at a $90M + run rate by the end of 2022.
Mick shares his startup story and how he successfully scaled and exited his first DSO before starting Oakpoint.
Mick and Austin discuss current trends as the public markets have recently fallen over 22% into official bear market territory. Will the private markets follow and what does this mean for healthcare?
Podcast recommendations: All in
Get in touch: www.oakpoint.us mick@oakpoint.us
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Dr. Steve Broughton is the CEO and Founder of Light Dental Studios. They have 22 locations in the Seattle Tacoma area. They focus on larger structures, with their biggest locations having 39 operatories.
Dr. Broughton was abandoned by both of his biological parents and literally thrown into a garbage can before being adopted by American parents.
Through extreme sacrifice and hard work, he climbed the top of success ladder only to find himself lonely and depressed at the top.
Listen as Austin and Dr. Broughton go deep into his complicated story to find out how he balances financial success and mental health.
Go to lightdentalstudios.com can contact them there and he can talk to people. Email drb@lightdentalstudios.com
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Elijah Desmond is a serial entrepreneur and philanthropist, Co founder of driven dental implant marketing, CEO and founder of Smiles at Sea, Vice President of the 501c3 Beyond The Game which is a philanthropic organization for kids.
Elijah talks about how to market and close implant cases using a combination of creativity and compassion.
Austin and Elijah also talk about events and whether or not they are worth the true cost of attending. With so many to choose from, what framework should you use to pick the right ones?
Get in touch via social media, Linked In, Facebook, Instagram: Elijah Desmond
Website: drivendentalmarketing.com
Email: elijah@drivenmarketing.com
Check out Elijahs first podcast on Commercial Real Estate Secrets
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Kerry Straine is CEO and founder of Straine Dental Management and Straine Dental Consulting. They work with over 280 practices on a daily basis and have 38 practices under management with a significant pipeline of high performing practices.
Kerry began his career in public accounting before becoming the “accidental dental” consultant. In this episode he discusses his new style of DSO and how they plan to grow to 150 locations by 2025.
Austin and Kerry also talk about the mindset needed to scale organization and where the economy is going from here.
Get in touch: kerry@straine.com or his mobile 916-765-7200.
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Roger Davila is Director of Real Estate and Construction at Thrive Pet Healthcare. Thrive has about 380 locations nationwide and they’ve been in business since 2003.
The pandemic caused vet ownership to surge, a trend that is likely here to stay.
Roger talks about the power of delegation, and how he had to transform from a one man show to having a team of people reporting to him.
Roger and Austin also talk about the real estate market, and how they are battling all of the issues related to inflation and supply chains.
Get in touch with Roger on Linked in or visit www.thrivepethealthcare.com
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Ben Hernandez is the managing partner of Skytale Group. Skytale group been in business since 2018. They are healthcare focussed management consulting and sell side M&A firm.
Austin and Ben talk about three of the biggest challenges healthcare groups are facing right now:
- Staff shortages, aka the great resignation
- Rising interest rates
- Supply chain constraints
In general there is no one size fits all, but there are things within your control on which you can have a positive effect.
Get in touch via email: ben.hernandez@skytalegroup.com
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Dr. Tim Richardson is founder and CEO of Acorn Dentistry for Kids. He has six practices through out northwest Oregan that were all started through de novo.
He began centralizing services after opening just two locations. He now owns the real estate for four locations, two of which he bought after he was a tenant. He plans on breaking into orthodontics this summer and continuing the growth.
Dr. Richardson shares how he utilized equity in the real estate to grow his dental business. Austin and him also talk about some of the principals learned from the book “Rich Dad Poor Dad” by Robert Kiyosaki and how that has helped shape their career.
Podcast recommendations: For Leadership: Coaching For Leaders with Dave Stachowiak; For Dental - DSO Secrets with Emmet Scott and Ken Kaufman; For broad Real Estate investing education: Real Wealth Show with Kathy Fettke
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How do you value EBITDA?
It's a combination of :
- Infrastructure
- payor mix
- use of innovative technology such as AI
- whether the owner stays on and their skill set
- the ability to integrate specialties
- plan for growth and ability to grow
- culture
In short, it's an art and not a science. Sometimes the best thing you can do to increase EBITDA is close a location.
Brian and Austin talk about what direction EBITDA multiples are headed and how the FED affects the industry.
Join Austin and Brian at the Dykema conference in Denver July 13th-15th.
www.dykemadso.com
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Dr. Steven Wingfield is President of the Dental Whale Practice Group, an emerging Group Practice that owns and/or manages about 45 practices. Dr Wingfield is also a Co-Founder of Dental Whale, an innovative company that brings intelligent solutions to the dental industry.
Dental Whale has been making a name for itself recently with the sponsoring of some huge events, and their unique business model has them poised for massive growth.
Dental Whale's goal is to help Private Practice Dentists thrive by providing them with:
- Solutions -Call Center, Procurement, Marketing, Repair and Equipment Solutions- for Private and Small Group Dental Practices
- In-Person and Online Education and Development Programs.
- An innovative online platform (My Dental Whale) that let's them manage all aspects of their relationship with Dental Whale.
Dental Whale Practice Group (DWPG) is a Partner-Based Group of Dentists that build regions of high quality, successful dental practices. DWPG practices utilize the Solutions and Education Platform that My Dental Whale provides to streamline and improve their performance. In the DWPG Partnership Program, they help their Partners integrate into the Dental Whale Way of systems, and simultaneously get them ready for partnership into the Dental Whale Practice Group. It’s a truly beautiful strategy for everyone and a Win-Win for the Partner Dentist.
To Get In Touch:
www.dentalwhale.com
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Dr. Yarmolyuk is founder and president of Orthodontic Experts. OE was founded in December 2012 and they currently have 21 locations in the midwest.
Dr. Y was born in the Ukraine and watched the collapse of the Soviet Union first hand, which had a dramatic affect on him. He moved the US as soon as he was able to pursue the American dream.
Even early on in his business, he was charitable with his time and money and used the concept of paying it forward. Ben Weisberg joins us on the call to explain their charitable contributions and the impact its having in the community
Book Recommendation: Rich Dad Poor Dad
Podcast Recommendation: How I built this with Guy Raz
Dr.y@orthodonticexpert.com ben@orthodonticexperts.com
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This episode is a joint interview with Nicole Brandi Ashmore, founder and CEO of Dental Express, and Teresa Williams, COO of Dental Express. They started in 2014 and have seven locations in San Diego. However, they’ve been working together in the DSO space since 2008.
One of their core beliefs is not upselling dental care, which is counter to many of the common practices today. This strategy has helped them achieve consistent growth to the tune of 200 new patients a month per location.
Their real estate strategy revolves around finding highly visible locations with great neighbor tenants such as Starbucks.
They also share their views on vendor relationships and how they can be just as important as patients.
Email: teresa.williams@thedentalexpress.com Nicole.brandi@thedentalexpress.com
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Dr. Mark Costes CEO of Dental Success Network and Dental Success Institute, multiple practice owner, author of four books, and Host of the Dentalpreneur Podcast,
Dentistry isn’t any different than other service based industries, everyone is experiencing shortages of staffing. Organizations are trying to get the same amount of productivity from business with fewer humans, some quite successfully.
There are 1100 dentists in dental success network, so Dr. Costes is able to discuss solutions to major issues as they’re happening.
Learn what he and Austin have to say about this, supply chain issues, inflation and real estate
Get in touch: Dental success institute or @DrMarkCostes on Facebook, Instagram, and YouTube.
Truedentalsuccess.com dentalsuccessnetwork.com
The podcast is on all networks.
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Fred Ward is the CEO of Marquee Dental Partners, which was founded in 2015 and currently has 63 dentals offices in the south eastern part of the US.
"When most people think of dentistry, they think of nice, straight, white teeth. Dentistry is so much more...Dentists can improve a patient’s systemic health and through regular visits and professional cleanings, dentistry can improve a patient’s quality of life,” Fred Ward.
The growth strategy at Marquee is a two prong approach of both de novos and acquisitions.
Fred has personally opened 35-40 de novos and has his processes down to a science.
To get in touch and learn more, visit https://www.marqueedentalpartners.com/
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Dr. Ray Khouri is founder and executive chairman of United Dental Corporation, one of the nation’s leading Dental Service Organizations (DSO). He has successfully created DSOs in Australia, New Zealand, Canada and United States.
He launched and sold Dental Corp. of Australia and New Zealand to Bupa Dental Corp. – now the largest dental network in both countries – for $600 million 2013. He replicated the model in Canada, where Dental Corp. was launched and sold for $400 million to Canada’s pension fund.
The company was subsequently sold to the private equity firm L Catterton for $1.6 billion in 2019 and today is listed on Canada’s stock exchange. Dr. Khouri’s passion is empowering doctors to monetize the value of their practice.
Get in touch: ray@udc.dental
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Dr. Bill Piskorowski is the associate Dean for community based clinical education at UCLA. He has been a licensed Dentist since 1979 and has 43 years of experience in the industry.
He’s developed a program that helps to get dental students more hands on learning by working directly with DSOs. If you use students solely to enhance productivity you’ll lose. However, if you teach them, you’ll win. Students are about 70% as productive as doctors, but 20% of the cost.
He talks about the importance of building relationships and how DSOs have are changing the way dental schools are operating.
Get in touch: bpiskorowski@dentistry.ucla.edu
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Isaiah Douglass is partner of Vincere Wealth, a financial planning firm that focusses on helping dentists and veterinarians get to the point where work is optional. Isaiah has been in the business since 2015 and Vincere was started in 2018.
Isaiah uses the analogy of money being like a battery, stored potential energy for the future. Austin and Isaiah share their views on money and the macro economy and where they are investing their time and money.
Do you feel like it’s too late to invest in bitcoin? Isaiah talks about the pros and cons on crypto currencies as an asset class, as well as whether or not it makes sense to buy the real estate of your business.
Top podcast recommendations: The Bitcoin Standard, Bitcoin Fundamentals from Preston Pish, We study billionaires podcast
Learn more about him at www.vincerewealth.com
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Dr. White serves as the president and CEO of PepperPointe Partnerships, which currently serves more than 90 dental locations and more than 100 doctors.
Additionally, he co-founded the company that invented the world’s top-selling custom breast prosthesis for post-mastectomy breast cancer survivors.
He tells his story of how he started as a farm boy in west Tennessee before deciding to drive 300 miles to enroll in college. From there, his life took a series of turns he could never have predicted which lead him to where he is today.
Dr. White shares how sticking true to his values has shaped his business and his life.
Book recommendations: Playing to Win (a strategy book) by Lafley and Martin, Beyond Entrepreneurship by Collins and Lazier, Good to Great, How to Be a Great Boss and Traction.
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Bruce Johnstone is director of client services at Apex design build. Apex design build is a family owned, fully integrated design and construction firm working in the healthcare market. They have been in business for four generations, and Bruce has 11 years of experience.
Construction costs and labor costs are skyrocketing. How do you know how much to budget? Bruce explains what to look for from market to market in order to avoid over paying and create realistic expectations.
A misconception is that to retain an architect and then bid out the work to general contractors will save money. A true design and build approach is the best way to control a cost because you can avoid change order fees.
Reach out: go to www.apexdesignbuild.net
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Dr. Jonathan Mason is co-founder and chief clinical officer of Select Dental Management.
Dr. Mason partnered with Elliot Zibel to start their DSO in 2017. They now have 38 practices with 85 clinicians.
Dr. Mason talks about how his lifestyle choices inadvertently caused him to pick a dental desert for his first location, which has lead to an extraordinarily successful practice.
Get in touch: www.selectdentalmanagement.com email jmason@selectdentalmanagement.com
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Dr. Matt Leavitt is founder and executive chair of Advanced Dermatology, CEO of Leavitt Consulting, and executive medical chair of Bosley.
He founded Advanced Derm in 1989, they have over 150 locations in 14 states and are one of the two largest dermatology platforms in the US.
Keys to his growth include being first to market and understanding how and when to centralize processes.
He shares his fascinating journey of business success, which includes owning some of the most prestigious real estate in the world and being featured on Penn and Teller.
Reach out: www.adcs.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Bryan Laskin is founder of Upgrade Dental, an educational platform that teaches dental offices and DSOs how to grow their practices by putting patients first. He’s been in the dental industry for 22 years and has owned his own practice for 19 years.
Recently, he’s been investing in different dental tech companies. He’s launching a new platform called “ToothApps” where they put dental apps on the platform which facilitates services like ToothPay and tele-dentistry.
Bryan shares his observations about how exceptional dentistry doesn’t actually make you successful. There is 0% correlation between quality of dentistry and success of the practice. Its about the patient experience.
Favorite business books/podcasts:
Traction by Gino Wickman, Storybrand by Don Miller, The Prof G Podcast with Scott Galloway, The Patient First Podcast
Get in touch: www.patientfirstbook.com
www.bryanklaskin.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Mike White is Principal at CLA (CliftonLarsonAllen), the 8th largest CPA and consultancy firm in the country. They focus on dentists and physicians, DSOs, Med Spas, Veterinarians, orthopedics, and opthamologists.
When most people think of CPAs they think of filing their taxes, but they would be remised. Mike and his team help turn accounting from a backward looking perspective to a forward looking indicator with their unique set of dashboard tools.
Podcast recommendations: Tim Ferris, DSO Secrets, and a few crime podcasts that pop up,
Book recommendations: EOS, Traction, Who moved my Cheese
Reach out mike.white@claconnect.com
469-974-6693
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Michael Augins is co founder and president of Imagen Dental Partners. They are a DPO that started in March of 2020. They are one of the only DPOs that focusses exclusively on partnering and growing high technology practices. They’re currently growing at a rate of three to five partners a month and supported practices grew their EBITDA by over 80 percent in 2021
Michael started his journey as an entrepreneur in college selling a product he co-invented called the Bottle Buddy which allowed college students to drink faster. He parlayed this invention into Premier Event and Tour a company that produced spring break events and grew into the largest in the country.
He continued his entrepreneurial journey into the world of business as he helped healthcare companies maximize their growth. After serving as president of Sirona for 15 years he helped lead the merger of Sirona with Dentsply forming the world’s largest dental company where he served as North American commercial officer. After leaving Dentsply Sirona, he partnered with Rezwan Manji former President of Spear education to form a DPO that took the best attributes of group and independent dentistry and that’s how Imagen was born.
Check out imagendentalpartners.com for more info.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Steve Kuchuris is Founder of SK Consulting & Dental Practice Rescue.
There is a push to communism right now. Why is that happening and how can we help fight against it?
The two biggest things that Steve sees Dentalpreneurs doing wrong are culture and leadership. Customers should be second and employees should be first.
Additionally, business owners can be stingy sometimes. Steven helps them figure out how they can pay higher wages in way that ends up with the owners also making more money.
Learn about everything Steve does to help turn practices around by listening to the full show.
Shoot a text to his cell phone if you’d like to ask any questions: 630-235-2272
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Sina possesses over 15 years of experience in the U.S. and Canadian healthcare industries, a decade of which has been dedicated exclusively to advancing dentistry.
Prior to his current role as the Vice President of Business Development & Partnerships at Zentist, Sina ran the national operations of a private equity funded Canadian dental support organization (DSO).
Zentist is a platform that uses advanced technology to simplify and automate insurance revenue cycle management (RCM) for dental practices and DSOs.
In this podcast episode, Sina shares his personal career journey and leadership philosophy.
Get in touch: sina.amiri@zentist.io
LinkedIn: www.linkedin.com/in/betterdentistry/
Twitter: @betterdentistry
Learn more about Zentist: www.zentist.io
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Eric Roman was a DSO CEO, then became a serial startup entrepreneur and built six companies over the course of Covid. Recently, he refocused his efforts and rolled a number of the companies into the Dental Entrepreneur Organization, the DEO, of which he is now a partner.
Dr. Roman talks about his successes and failures during his time as a DSO founder/executive, and the importance of a dental-specific operating system as you scale from practice to business, then business to organization.
Austin and Dr. Roman also discuss different ways to leverage real estate when building a DSO.
Reach out: eroman@deodentalgroup.com, www.deodentalgroup.com, or www.joyfulpeople.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Daryl Cunningham is V.P. of Real Estate & Development Riccobene Associates Dentistry. Riccobene associates is a DSO located in NC and Virginia. They started in 2000 and now have over 40 locations, growing with a with a two prong strategy of both de novo and acquisition.
Daryl tells the story of how he went from a pharmaceutical sales rep to COO.
He talks about the macro economic situation we’re in and how that relates to growing a group dental organization.
Get in touch: Daryl.cunningham@brushandfloss.com
www.brushandfloss.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Loren Israelsen is founder and CEO of Positive Impact Dental. He graduated dental school in 2018 and since graduating purchased 16 practices, merged 6 of them, for a total of 10 locations and rapidly growing.
Located in Oklahoma City and Tulsa, Loren has plans to expand eventually to Texas, MO, and Kansas.
He started out selling pesticides door to door and eventually leveraged residential real estate to start a DSO.
Get in touch: loren@positiveimoactdental.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Chelsea Myers is founder and CEO of Dental Life Coach, a firm that focuses on entrepreneurial intelligence for dentists in DSOs.
Chelsea started at Wells Fargo working on building self confidence for leaders and peers. She slowly realized she had a knack for creating frameworks and motivating teammates, so she set out to start her own coaching firm.
In this episode, Chelsea talks about getting past limiting beliefs, creating financial goals, the importance of physical health on job performance, and her own heart throbbing story about mental health.
Book recommendations: Anything by Dan Sullivan, As a Man Thinketh
Get in touch: www.dentallife.coach
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Ivan Zak is CEO and founder of Galaxy Vets Veterinary Healthcare system. He’s also podcast co-host of Veterinary Innovation Podcast and a podcast called Consolidate That!
Originally born in Ukraine, Dr. Zak moved to Canada where his tumultuous career began by getting fired by his cofounders without warning.
Fast forward to today, he founded Galaxy Vets in August and already over 100 practices expressed their interest to join in. They have plans to grow to 220 hospitals and go public in five to seven years. Their goal is to create a scalable hub and spoke model with vertically integrated services.
Find him on LinkedIn https://www.linkedin.com/in/dr-ivan-zak/
www.galaxyvets.com
Find him on linked in https://www.linkedin.com/in/dr-ivan-zak/
www.galaxyvets.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Priyanki Amroliwala is the senior manager of talent and acquisition at 42 North Dental.
Employers and healthcare groups get hung up on the difficulties of the market we’re in for finding labor and new hires. Is it impossible? Do you have to break the bank?
Priyanki shares her strategies on how she tackles these complex issues, and rarely does it involve throwing more money them. She shares her tips and strategies that employers can implement for FREE to attract new talent.
To get in though, follow Priyanki Amroliwala on linked in.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Mark Ziller is Co-Founder & CEO ofInnovetive Petcare. They started in January of 2015 and currently have 60 locations.
He attributes his success to one thing, his team. He attributes his team to one thing, culture.
What is culture? It’s elusive and hard to pinpoint, but nothing will stop your growth faster than not being intentional.
We discuss how Mark scaled his organization and the current bottlenecks he’s facing in the industry.
Podcast recommendations: How I Built This with Guy Raz, The History of Rome Podcast,
Find out more: innovativepetcare.com or Mark Ziller on Linked In.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Justin Coke is CEO and founder of 7 to 7 dental, founded in 2008 San Antonio and currently have 8 locations. They’ve grown “the hard way”, exclusively through de novo.
He talks about his journey moving up through the service industry in his younger years and all the lessons learned that he ultimately took into the entrepreneurial world. The customer experience is essential to the success of their clinics.
Now operating 8+ locations, he shares the plug-n-play principles that allow them to open new locations without all of the stress.
Book recommendations: How to Win Friends and Influence People, Anything by Zig Ziglar
https://www.7to7dental.com/
jcoke@7to7dental.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Peter Kelley is CEO and co-founder of Operation Dental. They started in 2016 and currently have 10 locations in the Central Florida area.
Over the past few years, Peter has wrestled with some of life’s toughest questions. The stress of growing a DSO put him in counseling, but now he is on the other side with wisdom to share.
We talk about topics such as growing with intention: understanding why you’re doing what you’re doing.
We also talk about a unique way to fund a DSO, a RegD 5076C fund. Listen in for details.
Book recommendations and podcasts: Extreme Ownership by Jock Willink, Principals by Ray Dahlio, Good to Great by Jim Collins.
www.operationdental.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Peter Alemis is Chief Development Officer at Family Dental Care in Chicago. They started in 1986 and currently have seven locations.
The foundation for Family Dental Care has been laid over the past 35 years. Now they are ready for rapid growth, which is where Peter comes in. His role is to help expand the company through both de novo sites and acquisitions.
Peter has been involved in a mix of dental businesses, real estate, and venture capital.
Favorite recommendation: The 10 X Rule by Grant Cardone
Favorite podcasts: Off Camera by Sam Jones - a podcast for actors and artists, Patrick OShaughnessy - Invest Like the Best
Contact Peter: peter@familydentalcare.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Anushka Gaglani and Dr. Abhishek Nagaraj are cofounders of Aero Dental Group, a DSO with five locations in the Chicago area. Both doctors are from India, and we talk how their culture has helped shape their lives and careers for the better.
Dr. Gaglani and Dr. Nagaraj own three of the five real estate buildings. They plan on continuing their growth into other states and picking up as much of the real estate as possible.
We also talk about balancing being a clinician and an entrepreneur, the power of systems, and how the criteria for making decisions changes as your organization grows.
Learn more about Aero Dental Group:
www.aerodentalgroup.com
truedentistrychicago@gmail.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Elliot Zibel is CEO and Co-Founder of Select Dental Management, started in 2018 and have grown to 32 locations. Their annual revenue per location averages at $2.5M, which puts them in the top 1% of dental offices.
Elliot started as a broker on Wall Street where he searched for companies with asymmetrical risk reward profiles. He applied that same skill set to the dental industry, and Select Dental Management has seen massive growth as a result.
Although that skill helped him scale quickly, he hit a bottle neck. Employee churn was high and he was unsure how to fix it. The answer came when he was sitting in a meeting and realized the value of culture and doctor retention. Learn how he flipped the switch.
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Dr. Maryam Beyramian is CEO and founder of West Wind Integrated Health. They started in 2002 and now have 10 locations. Dr. Beyramian was a panelist at both the Dykema DSO event earlier this year and the DSO Summit in San Francisco.
Here are her five to do pre negotiation pearls for finding commercial real estate:
- Have a strong agent that works for you on your side, such as knowing the monthly budget.
- Know exactly what you want - traffic counts, anchor store in a shopping plaza, compare it to the traffic count of their other locations, etc
- Look at 12 locations at least - see all aspects
- Send offers on 3 of them. Be verbal about your multiple locations to create leverage
- Make sure you have an attorney
The five no no’s to look out for in leases:
- Hidden fees (termination, transfer)
- Rent escalation - delay this until after year 2, try to stop at 2% maximum
- Excessive cam fees - make sure there’s a maximum cam fee
- Personal guarantee - She is 100% against it. Use a business guarantee if possible
- Financial statement - can ask for entire group instead; revenue, expenses, etc.
Friend her linked in: Maryam Beyramian
Email: bayramian@westwindih.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Steve Bilt is founder and CEO of Smile Brands, which has over 700 locations.
Growing to 700 locations has made Smile Brands one of the most formidable DSOs in the world, and they are no where near stopping.
Steve was asked to “retire” from the company he co-founded and subsequent to it struggling to maintain its historical success was able to re-acquire it and execute a dramatic turnaround and expansion.
During the show we talk about life principles and lessons that he lives by and how they can help anyone looking to advance their career and their life.
You can help support their nonprofit organization here: https://www.smilesforeveryone.org
Get in touch with Steve: Steve.bilt@smilebrands.com
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Dr. Jeromy Dixson took a two year hiatus to plan the trip of a lifetime. Here are the stats:
- 1 full year
- 5 backpacks (carry-on size)
- 6 continents
- 35 countries
- 50 UNESCO Heritage sites
- 66 flights
- 94 different accommodations
Surprisingly, it doesn't cost as much as you might think.
The real question is, "How can you take off that much time and not get left behind?" Jeromy explains that when he came back he didn't feel like he missed out.
We talk about the importance of quality of time vs quantity of time, and how to balance life and success in this complicated world.
Since returning, Jeromy has continued to be successful in his career in group dentistry. His accolades include:
- Founder and CEO of The DSO Project
- Founder and CEO of Dental Capital Partners
- One of 7 Key DSO influencers named by Group Dentistry Now,
- Co-Founding Partner of Smart Dilligence, which is fundamentally transforming dental M&A diligence and compliance powered by AI, which is launching publicly in the next couple of months
- 3X INC 500/5000 entrepreneur, currently co-founding a new business in the dental AI space that will fundamentally transform how dental transactions of all sizes are completed.
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Dr. John Marcus of Partner Development at United Vet Care, currently they have 75 locations with another 20 under LOI, started in June of 2019.
In 2001, John bought his own vet clinic along with the real estate which he operated for 18 years. From there he learned the ins and outs of the business which set him up for his current role of partner development at United Vet Care.
Additionally, we talk about the distortion of truth in the mainstream media and big tech platforms when it comes to ivermectin and the treatment of covid. As a veterinarian, John is very familiar with ivermectin and has a compelling argument for using it as a covid treatment.
Podcast recommendations: Jordan Pederson, Joe Rogan, The Bob Murphy Show, The Smartest Doctor in the Room, Bruce Patterson
Get in touch with him: docjohnm@comcast.net
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Neil Wahlgren is COO of Mag Capital Partners, where they focus on industrial manufacturing real estate investments and currently have $300 million under asset management spread over 45 properties.
Mag Capital is using industrial space leasebacks to generate significant returns, listen in to learn more about this strategy and this asset class.
Get in touch: www.magcp.com neil@magcp.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Josh Cochran is founder and CEO of Cochran Real Estate and Dr. C family dentistry. He currently owns 5 practices with collections of over $1M a month, and he will soon have seven locations under his belt. He's the primary owner of several commercial buildings and is actively involved in single family rentals, multifamily rentals, self storage, and other retail real estate locations.
In this show we talk about the competitive mindset of an entrepreneur but, paradoxically, scaling requires working and partnering with other people in your industry.
Dr. Cochran credits much of his success to finding people that were doing exactly what he wanted to do and gaining them as mentors.
Dr. Cochran's podcast recommendations:
Joe Fairless Best Real Estate Investing Advice, DSO Secrets, Old Capital
Contact:
206-755-6436
rivercochran@gmail.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Emmet Scott is CEO of Community Dental Partners, supporting 70 locations around Texas, host of DSO Secrets podcast, partners of the Dental Entrepreneur Organization (DEO), and was elected president of the Association for Dental Support Organizations (ADSO) in 2020.
The ADSO started 20 years ago when some of the largest groups today were small and the CEOs wanted to share and learn together. Today anyone supporting the DSO model is welcome to apply for membership.
With inflation driving costs up for rent, supplies, construction, and labor, the only solution is to leverage technology to become more efficient.
How do you identify better markets? Will DSOs start going public? We talk about these questions and the state of group dentistry in this episode.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Damon Yudichak is the author of Profit First for Real Estate Agents which talks about how to transform a real estate agency from a cash eating monster to a money making machine.
Damon started his own business as a CPA, and despite making decent revenue he quickly found himself with nothing left over each month. That’s when he discovered the book Profit First, a book that shaped the way he looked at and handled cash flow.
Now, he has written the book Profit First for Real Estate Agents, and outlines exactly how real estate professionals can begin making more take home pay.
Connect with him on Facebook or visit www.getprofitfirst.com to get a copy of the book.
Email: damon@idealmoneylife.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Born in Egypt, an ex Periodontist Dr. Tarek Aly migrated to the US for an MBA program, he realized the rural areas of Texas were underserved and decided to take full advantage.
He founded Orthodent in 2012 and has scaled to 12 locations. Recently he became co-owner of Modern Smiles, adding 8 locations for a total of 20 practices under his guidance.
In this podcast, Tarek shares:
- How he identified key trade areas that made his business thrive
- The bottlenecks that came with scaling an organization
- How he broke into a market that was reluctant of new businesses
Get in touch: taly@orthodent.com Orthodentllc.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Mark Ritter is CEO of MBFS, is a credit union owned company providing financing for real estate investors of all shapes and sizes.
Mark explains what a credit union is and his personal story of how he got into the game.
www.mbfs.org
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Bryson Goss is a practice advisor at Healthcare Consulting, a company that helps independently owned medical and dentalpractices manage their business from start to finish with the goal of creating wealth and reducing taxes.
Bryson has been specializing in this for 13 years and Healthcare Consulting has been in business since 1971.
Email: bgoss@hci-ebs.com
www.hci-ebs.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Aaron Plaat is the owner and founder of Tripleskinny, an agency that focuses on dental paid patient acquisition and lead generation.
We talk about how a commercial real estate site selection strategy goes hand in hand with digital marketing.
We also address how SEO, or search engine optimization, has gone from being the gold standard to seemingly insignificant and now back to the gold standard.
Get in touch with Aaron: https://tripleskinny.com or aaron@tripleskinny.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dave Dubeau is a Real Estate Entrepreneur, Best-Selling Author, Speaker and Investor Attraction Expert based in Beautiful British Columbia, Canada. He began his real estate investing career in 2003 doing 18 deals in 18 months. He later switched his focus to client-first rent to own deals, and nowadays he invests in multi-family (apartment building) properties.
For the last several years Dave has been a leading authority on helping mom and pop real estate investors to find money partners and raise capital. Using his proprietary 5 Step Money Partner Formula™, Dave helps his real estate entrepreneur clients to grow their portfolios significantly and in record time by attracting investors (instead of chasing after them).
website: www.DaveDubeau.com
Get a complimentary copy of his newest book, Money Partner Formula at: www.InvestorAttractionBook.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Chad Johnson started out in the middle of the pack during his middle school and high school years. But he quickly learned something, the smartest kids didn't always make the best grades. He decided he'd try and overtake the smart kids through extra effort, and it worked.
Now, the self proclaimed "average student" owns multiple successful dental offices and co-hosts a popular podcast.
listen to his podcast here: http://www.everydaypracticespodcast.com/
Email him at: chaddds@gmail.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Chris Lugo is the Founder of Puget Sound Pediatric Dentistry and the Dynamic Dental Management DSO. They have grown to five locations and plan on growing at a rate of two per year using combination of buying and leasing their buildings, which we talk about in detail.
Listen along to hear Dr. Lugo's story and success principals along the way.
Book recommendations: Anything by Jack Welch or Brene Brown, and The Ride of a Lifetime, by Bob Iger from Disney.
Email Dr. Lugo: drlugo@pugetsoundpd.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Amol Nirgudkar was born in India and migrated to the US when he was 16. From accountant, to hedge fund manager, to AI innovator, he has quite an extensive entrepreneurial background.
Amol is currently focusing his efforts on Patient Prism, an AI technology for dental practices to book more calls into scheduled appointments.
We talk about life in India, how artificial intelligence is shaping the world and commercial real estate, and the future of dentistry.
Go to www.patientprism.com to see case studies and podcasts:
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Chris Skyles is the Chief growth officer of AnthemIQ, a transaction management software for commercial real estate brokers. He the is founder and CEO of the commercial brokerage and development arms at Elevate Growth Partners and Elevate Development Partners.
He started with nothing and has successfully built several multi million dollar organizations. Today, he tells his story and his plans for the future.
Listen in for key take aways of how mindset affects your growth and how you can overcome your upbringing.
Podcast recommendation: Mind Valley
www.elevategp.com
www.anthemiq.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Nick Perry is CEO and founder of Want to Sell Now, the largest nation wide single family residential wholesale company in the US. He started in 2014 and now consistently produces $300k-$500k a month. He's also started several other businesses that generate passive income, and his goal is to continue to compound his growth.
Nick started with nothing to his name working as a personal trainer in Austin, TX. Through a series of connections and a knack for networking, he soon found himself in a lucrative career. He used that as a springboard to launch into real estate, and now uses real estate to fund his other business ventures.
Follow NickPerryREI on IG
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Ken LaRoe is founder, CEO and Chairman of Climate First bank. He started Florida Choice Bank in 1999 and successfully sold in 2006. He started First Green Bank in 2009 and sold successfully in 2018.
Climate First bank saw an incredible interest from investors and surpassed their maximum investment threshold.
We talk about how to align environmentalism and capitalism with incentivizing things like solar and efficient windows during the real estate development process.
https://www.climatefirstbank.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Mary R. Pham is the CEO/Founder/Pediatric Dentist and mom of Lollipop Dental Pediatric Dentistry & Orthodontics. Founded in 2012, they now have four locations and are on track to continue to open five new practices a year.
Dr. Pham explains how her first generation immigrant parents inspired her to work hard and become an entrepreneur. We talk about everything from attracting and retaining talent, to site selection, to lumber prices.
Dr. Pham's book recommendations are:
Traction, Leadership & self Deception, The Energy Bus, Culture Code
Dr. Pham also does consulting for women dentists who want to start or grow a practice, you can contact her at drmary@lollipopdental.com.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Saam Zarrabi is founder and CEO of Rodeo Dental and Orthodontics. They started during a time which some would say was the worst time to start a business, 2009, but have proven themselves as a force to be reckoned with.
We talk about the importance of site selection and how that lead to the success of Rodeo. We also talk about the importance of finding mentors and paying it forward with mentees.
Lastly, we address Rodeo's core values and mission statement and how that has allowed the business even greater impact.
Contact: Saam@rodeodental.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Kevin Cumbus has had 10 years of experience in finance and investment banking before getting involved with dentistry. We talk about his stint at Wall St and what he learned about investing and the importance of character.
Lastly, we talk about how he was inspired to found Tusk Partners in Charlotte, NC. Tusk partners is an M&A advisory firm focused exclusively on the dental industry that has completed $400M of transactions in the last 5 years.
Get in touch:
Tusk-partners.com
Cell- 704-654-0152
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Matthew Ricciardella is the managing partner and CEO of the private equity real estate fund called Crystal View Capital, which has approximately $200M in assets under management. They specialize in mobile home parks and self storage.
Matthew uses a combination of elbow grease and door to door sales tactics that he learned form growing his Southern California residential real estate business to get disproportionate returns in commercial real estate. His first fund returned investors a 2.4 multiple on their money in 6 years. Listen to his story.
Check out:
crystalviewcapital.com
invest@crystalviewcapital.com
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Austin Hair from Leaders Real Estate gives his market predictions for commercial real estate, residential real estate, and the stock market.
Learn how retail companies are reinventing themselves after covid and surprisingly requiring more space than before.
We also talk about the effect of inflation on rents and cap rates.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Randy Blankstein is the founder and President of the Boulder Group. He has been in real estate 31 years and is an active content contributor on blogs and social media
We talk in depth about the impact the pandemic has had on commercial real estate from office to retail. We also address inflation, and what we think that will shape the economy moving forward.
Listen in to find ways to protect yourself and set up your family for financial security.
Get connected via bouldergroup.com or linked in.
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Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate
Dr. Mona Gupta is founder and CEO of Gupta Psychiatry located in Raleigh, NC.
We talk about her journey and how picking the right location has helped her practice thrive.
We also talk about the increase in addiction she has seen first hand as a psychiatrist since the lockdowns started. Listen in for more details.
Get in touch or read her blogs at Guptapsychiatry.com
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So many fundamentally good businesses took on more debt than they can service and don't realize that there is a way to get out of debt while satisfying personal guarantees.
Labruta Capital specializes in helping financially challenged businesses through a series of debt removal strategies. Once done, they execute a balance sheet restructuring program to help the business stay open and preserve the jobs of the employees.
This strategy enables the business owner to gracefully exit their current position without needing to worry about personal guarantees or filing bankruptcy.
Since Labruta is taking on the first position creditor, this is done at no cost to the business owner.
If you know of a business that has between $500k and $50M of debt, reach out to podcast@leadersre.com
Find out more at https://www.labrutacapital.com.
Jeromy Dixson is Founder and CEO of The DSO Project and Founder and CEO of Dental Capital Partners. He is one of 7 Key DSO influencers named by Group Dentistry Now, 3X INC 500/5000 entrepreneur, currently co-founding a new business in the dental AI space that will fundamentally transform how dental transactions of all sizes are completed.
We talk about how Jeromy got his start and his fundamental views on life and success.
Book recommendations: Hell Yeah or No by Derek Sivers
Get in touch on linked in or email him at drdixson@dsoproject.com
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Michael Byrd is the Founder and CEO of Byrd Adatto Lawfirm. The firm started in 2015. He’s been practicing law since 1995. He also Cohosts the podcast The legal123s with ByrdAdatto.
Michael explains the difference between MSOs and DSOs, as well as trends we're seeing in the industry. We talk about how the excess cash on the sidelines is getting ready to fuel the to the process of agglomeration in the industry.
If you are in the health space, they are the go to firm for business and regulatory health care needs: www.byrdadatto.com
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Dr. John Meis is CEO of Team Training Institute, CEO Spark Coaching and Consulting, and owns a Dental Support Organization with 4 locations in Tulsa and several acquisitions in the works.
He has been practicing for 26 years, and he tells the story of how he bootstrapped his way to success of a single location before growing to multiple locations.
Dental specific book recommendations
- Ultimate guide to tripling your dental practice production
- Everything is Marketing by Fred Joyle
- 11 Habits of Highly Successful Dentists
Find out more:
www.theteamtraininginstitute.com
www.sparkdentalnetwork.com
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Dr. Aj Acierno is CEO and Founder of Decision One Dental, and COO of Smile Brands Midwest region which has over 230 locations. As of today smile brands has over 700 practice locations and growing.
Dr. Acierno talks about first and foremost he wants to make an impact in the world. This involves improving the entire dental industry and comes way before making a profit on his priority list.
Listen in as we discuss growing and scaling a business, balancing real estate, and serving people.
Get in touch: ajacierno@decisiononedental.com
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Ketan is a High Performance Real Estate Coach that helps motivated real estate entrepreneurs create more income and impact by aligning their mindset, strategy and execution. He has mastered the art of getting results by combining techniques from Tony Robbins, Wim Hof, & Dr. Joe Dispenza.
His achievements include earning an accelerated Doctor of Pharmacy Degree (while Learning English), Building a Multi-Million Dollar Rental portfolio by starting from $8k, Raising Over $10 Million for his multifamily syndication business and growing a senior care business by 3x in just 2 years.
Linked in:
www.ketanpatel.com
www.mukhicapital.com
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Elijah Desmond is a serial entrepreneur and philanthropist, co-founder of Driven Dental Implant Marketing, CEO and founder of Smiles at Sea, and president of the Ladder of Life which is a philanthropic organization for kids.
Since graduating from The Ohio State University in 2009 Elijah has started 20 businesses.
In this episode, we talk about the abundance mindset and the benefits of overwhelming generosity. Elijah's mindset shifted in his late twenties when he decided he would give generously and abundantly to anyone who asked. At this stage, his businesses took off.
Check out the dental industry's most fun live event: www.smilesatsea.com
Get in touch:
info@elijahdesmond.com
drivendentalmarketing.com
www.elijahdesmond.com
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Bill Neumann is CEO and co-founder of Group Dentistry Now, which was founded in 2014. He’s also on the board of several dental organizations, including a start up DSO with practices in the US and Canada, a procurement software platform company, not for profit Dental Lifeline Network and several others.
We talk about the early stages of group dentistry and how real estate contributed to separating the winners from the losers. We also talk about industry trends and what to look out for in 2021.
Subscribe for free at groupdentistrynow.com
Sep 7-8th is their in person DSO leadership summit
Listen to their podcast https://podcasts.apple.com/us/podcast/group-dentistry-now-show-the-voice-of-the-dso-industry/id1458664658
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Brian Colao is director and founder of Dykema’s DSO industry group. Brian created this arm of Dykema and this is the 8th year of hosting the DSO conference. Unlike other conferences, this one will be entirely in person!
Brian started his career as a lawyer 25 years ago before Dental Service Organizations were an official concept. He's been on the scene to see them explode and shares his insight over how far they've come as an industry and where they are going from here.
To go to the live event this year in the rockies, go to dykemadso.com .
The dates are July 28-31st 2021.
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Jeremy Lustig is a doctor and co-owner of Lustig and Young Orthodontics as well as CEO and Co-Founder of Five Point Dental Specialists. They have 17 locations and have 3 more currently under LOI.
We talk about how Jeremy leveraged the development of a new commercial real estate project to earn extra income and setup his practice to receive the maximum benefits from his neighbor tenants.
We also talk about scaling a business and personal life experiences. Listen in to see where Five Point Dental is going from here!
http://www.fivepointdentalspecialists.com/
Lustigyoungortho.com
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Michael Fay, principal of Avison young and chairman of capital markets executive committee, is also the managing director of Miami Florida.
Michael has amassed a fortune over his lifetime and shares insights and principals he used in his successful investment career. From bitcoin, to the stock market, to commercial real estate, we talk about ways to build wealth and mitigate risk.
Email: Michael.fay@avisonyoung.com for more info or if you need help with commercial real estate in south Florida.
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Shelly Coheley is CEO and founder SC Practical Solutions. She's been in the healthcare industry for 25+ years.
She focusses on operational efficiency and expense reduction in physician practices, non hospital owned healthcare centers.
In this episode she shares her advice on how practices can become more profitable and how real estate plays a role in the success of the practice.
Cell: 2482073803
Site: scpracticalsolutions.com
Email: scoheley@scpracticalsolutions.com
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Dee Fischer is founder of Fischer Professional Group and has been in the dental and real estate industry for 36 years.
Over the course of those years she has made plenty of mistakes, learned valuable lessons, and helped hundreds of dentists save money and grow quickly.
Listen to her personally journey here.
Get in touch with Fischer professional group through her assistant: tammy@fischerspro.com
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Patrick Nelson is CFO of Platinum Dental Services. They have 22 locations, 18 of which are in Utah and 4 in Colorado.
On March 4th, we had CEO Vince Dilley on the show as well, and together these two paint a complete picture of Platinum and how they operate.
Patrick brings his expertise from his background in finance, explaining the difference between cash and accrual based accounting, as well as his perspective on real estate.
So many businesses fail because of poor cash flow management, and Patrick gives some advice on how to view both the cashflow and the cash reserves in a business.
You can reach out to him via email at Patrick@platinumdentalservices.com .
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Dr. Tarun Agarwal is Founder of 3D Dentists and Raleigh Dental Arts. He is a keynote speaker and practicing dental for 22 years.
Tarun coaches other dentists and takes a unique approach to balancing chairside work with lifestyle. He also personally invests in real estate and other businesses. Coming from a lineage of entrepreneurs, he has a great story to share.
Learn more about the ten acre retreat: 3d-dentists.com
Find him on the podcast library: Tbone speaks dentistry.
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Hunter went to dental school and originally wanted to own and operate a single location. However, he bought one location and the doctor decided to stayed on which allowed him some freedom.
He briefly pivoted and started buying some residential real estate with his partner before they bought a larger dental location where they could each work a couple days a week.
They got to five dental locations relatively quickly by improving patient flow organically. Then, they made the decision to acquire number six, which was about an hour away, when they decided to do the associate game.
This morphed into partner organization, and now all owners are dentists.
Listen in to hear Hunter's story and what makes GPS Dental unique.
learn more at www.gpsdds.com
email Hunter: hsmith@gpsdds.com
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Scott is Vice President of Special Markets at Scott's Dental Supply and Strategic Advisor to DSOs, Community Health Centers & the Dental Supply Chain.
Scott is an active member in the DSO Secrets group on Facebook, often sharing his wisdom and good advice.
We talk about how doctor entrepreneurs can tell their growth story to help negotiate the best rates for supplies and equipment, and how to use different strategies to maximize cash flow depending on what phase of the business life cycle you are in.
We also brush up on how real estate and site selection was so important for the large dental players early on.
The best way to get connected to Scott is via linked in.
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Mike Olson was originally a banker for the group that became known as DecisionOne Dental Partners.
He was recruited by them for his prominence in finance and knowledge of dental practice acquisitions. Mike talks about how he's seen the dental industry change and grow, and how real estate decisions affect the not only the success of the practice but also the sale process.
He tells us the story of how D1 started off with a single location and grew to 29 locations (currently 33) before it partnered with Smile Brands, who now support over 650 locations.
Get in touch with Mike: molson@decisiononedental.com or 708-428-3049
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Richard Fertig is the founder of Short Term Rental University, former manager of a $4.5B hedge fund, and has been in real estate for 23 years.
The first and most important step to living a high quality life is mindset, which Richard talks about in detail in this episode. Being optimistic about the future is extremely important in this line of work and opens more doors than any other skill set.
We follow Richard's impressive journey from Ivy League school, to hedge fund manager, to founder of a successful transportation company, to short term rental investor, to Bitcoin advocate.
Listen in for his take on where the stock market is headed, where real estate is headed, and what to make of the new asset class known as crypto currencies.
His in person short term rental investor summit is almost full, if you are interested in attending this year here is the link https://geni.us/Xo7a.
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Dr. Marc Faber is founder and CEO of Edge Dental Management. He started in 2012 and grown to 7 locations with a couple more acquisitions in the works as we speak.
Marc started out working for his father who owned his own dentistry office and quickly saw the massive amount of inefficiencies that bottle necking the business. He began looking for similar businesses that were located in areas he knew had more demand than supply.
With the combination of amazing site selection and utilizing systems for productivity, he quickly had a thriving office. Now, they have multiple locations with very strong EBITDA and own the real estate on the majority of those practices.
Listen in for key take aways in site selection that Marc used as well as the systems that helped him with exponential growth.
Reach out to him at MarcFaber@smilesinoc.com
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Keith Miller is CEO of Partnerships for Dentists, aka P4D, which was founded in 2017 and supports 24 locations in 5 states.
One of the main concepts that has propelled P4D's growth is servant leadership, which we talk about in detail in this episode.
We follow Keiths story from adolescence to adulthood as he explains how he got to his current position.
Check them out at p4dentists.com/
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Daniel Zimmon is partner at NatScent, where they unlock the power of smell.
How does scent relate to commercial real estate? Smell is something luxury brands have capitalized on for a long time, it's directly connected to the emotional brain - our perception of safety and value. Somehow it has largely gone unnoticed in most other industries.
In multi family, the perfect scent can actually command higher rent rates and create a feeling of luxury compared to other buildings without a intentional smell.
The same can be said for Dental Support Organizations, which is how we at Real Estate University first discovered Daniel.
We discuss the science behind smell and how it can increase the ROI in a business.
Email him at dzimmon@natscent.com or checkout www.natscent.com
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Vince Dilley is founder and CEO of Platinum Dental Services.
He took a different path than normal by going straight to into the business of buying dental practices instead of dental school. Although this seems counter intuitive, some of the most successful dentist support organizations, or DSO's, are founded by non dentists. Two examples are Community Dental Partners and Independence Dental Services, whose founders have both been on the show.
We talk about how Vince boot strapped his entire operation without taking on any equity capital. He and is partner Patrick Nelson have scaled to 22 locations while retaining full ownership.
We also talk about what happens when a dentist owns the real estate of a practice they are attempting to acquire, and what factors determine whether to buy or rent.
Get in touch with Vince on Linked in or email him at vince@platinumdentalservices.com
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Dr. Jonathan Wong is Partner of Renovo Endodontic Studio in the greater Chicago area. He currently owns the real estate on 8 of his 9 endodontic locations. His primary focus for 2021 is to grow same office profits with a secondary focus in growing the number of locations.
We talk about how Jonathan's parents, who immigrated to America, taught him the value of working hard. However, he had to combine working hard with working smart in order to start scaling his company. Now, his locations are crushing it and and he plans on growing a whole lot more.
Contact them at info@renovoendo.com.
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How do you become the CEO? Every company is different, but Ray has a unique story of the interesting trails that led him to CEO of Lone Peak Dental Services.
He started as a dental assistant in the army, then after finishing university, went to Heartland Dental Care where he worked his way from the front desk to a regional director of operations. After that he took a small break from dental where he tried his hand owning at a high-end retail bicycle shop, but realized he turned his fun hobby into a not so fun job.
So he sold the bike shop in order to became COO of DecisionOne Dental, which eventually led him to his current position as CEO of Lone Peak Dental which is in 15 states and rapidly growing.
You can contact him at ray@lonepeakdentalgroup.com.
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Lane Theirault is the CEO and founder of Independence Dental Services and was the founding director of the 2nd largest DSO in Canada.
Independence Dental Services currently has 8 locations with plans of growing through acquisition to 25 locations by the end of the year.
Lane didn't start in the dental industry but instead started in mergers and acquisitions at a large Canadian bank where he decided this was something he wanted to do on his own.
During his time as an employee at the bank, he leveraged his income to acquire some residential real estate which put him on the path to acquiring enough capital to start his own journey of acquisitions, and that's where the story gets interesting.
Check them out at https://www.independencedso.com and fill out their form to get in touch.
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Emmet Scott almost has too many positions to list
- President at Association of Dental Support Organizations
- Partner and Mentor at DEO - Dentist Entrepreneur Organization
- CEO of National Dentist Partners
- DSO Secrets podcast host
- CEO and founder at Smile Magic
- CEO at Community Dental Partners
We talk about Emmet's journey of entrepreneurship from childhood until now. It started with him doing lawns as a 14 year old kid and continues today as the CEO and President of multiple high level organizations.
Smile Magic is the brand that got it all started. We discuss the importance of the right location and how the wrong location can be one of the most expensive mistakes you as a business owner.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Dr. Gina Dorfman is the owner of Dentistry for kids and Adults in LA and Founder of Yapi Software. They started 2010 and now have over 3000 clients and 60 employees. She also hosts the Podcast Behind the smiles with Dr. Gina Dorfman.
Dr. Gina has a unique view on what socialism looks like as it's played out in practicality. Being born in Russia, she saw first hand how bad the quality of life changed under a socialist government. But is socialism always bad, or is it just bad if it's implemented by a dictator? Listen to find out.
We discuss the importance of her site selection for her first location and how that lead to her success of second location as well.
Find Dr. Gina on FB groups, Dental Town, or drgina@yapicentral.com yapiapp.com
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Blake Bozarth is the Founder and CEO of CoThryve and the host of Leadership on Purpose podcast.
Blake started out working for a fortune 250 company right out of college and quickly moved up the ranks. During that time he invested in residential real estate which he converted into Airbnb's. He saw an opportunity to help CEO's share info and techniques and that's when CoThryve was started.
We talk specifically about the 4x4 method, and how you can use that to get more done in a month.
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Mark Costes is the CEO of Dental Success Network and Dental Success Institute. He is also the host of the Dentalpreneur Podcast.
Mark has successfully grown a dental success networking group with over 1,000 clients. We talk about his story to success, and his journey from 0 to 16 locations and back down to 6.
True to our theme, we also talk about the power of good negotiation skills in regards to lease signings and renewals as well as how site selection can drastically affect how many new clients a business attracts.
Check out Dental success institute on FB, Instagram, and Youtube.
http://Truedentalsuccess.com http://dentalsuccessnetwork.com/
Dentalpreneur podcast: https://www.truedentalsuccess.com/the-dentalpreneur-podcast/
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Kiera Dent is the Founder and CEO of dental A team.
Straight out of school, Kiera was offered ownership in a startup dental office. They started one practice and grew from 500k - 2.4M in 9 months, immediately acquired 1 more and then more for total of 7 in 3 years. Although profitable, they realized what they had was creating more chaos in their lives than it was worth. So, they sold out over 1.5 years.
Kiera realized she had a knack for sales but was spending too much time putting out fires because of the lack of systems in place. So after they sold she began helping others forego the mistakes she made in business.
We talk about the importance of good street visibility and how much difference a good sign can make.
Oh, and she almost got deported from Canada!
Contact them: hello@thedentalateam.com thedentalateam.com
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Dr. David Phelps started his career as a Dentist and a real estate investor at almost the same time. After 15 years chair side in the day to day grind, he decided he wanted to transition. He did well enough with real estate that he didn't have to work any more, and everyone started asking him how he did it.
So, he started Freedom Founders, a place where people (mostly dentists) meet to share and vet real estate investments. After 20 years, it's become a quite a popular group.
We talk about single family residential, hard money lending, multi family, and other commercial deals.
https://www.freedomfounders.com
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John VanDuzer is Partner, James Moore & Company CPAs. They focus on real estate, so naturally we had a few questions when it came to the new administration.
For those in the lower income brackets, your taxes most likely won't change too much but you may see a slight reduction. Those making up to 400k won't see very many changes at all, but those making over 400k could see themselves in a 50-60% effective rate. Of course, that all depends on how you make your income.
We also address the rise of bitcoin, how it's affecting your taxes, and what to watch out for.
Check out https://www.jmco.com/industries/real-estate/ or email john.vanduzer@jmco.com to learn more.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Paul Birkett is the founder and CEO of Automation Finance. He started in corporate America and now he and his team buys and fixes distressed mortgages. They are the only ones using crowdfunding doing this, and they have been doing it since 2013.
First he built a portfolio of 30 rental homes across the US before realizing that this was more work than a full time job. That's when the light bulb went off.
They target an 8% compounding return for investors who buy in. The minimum amount is $250 to invest.
https://www.automationfinance.com
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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This is a special episode because we go off the rails a little bit and record our longest podcast yet, 1 hour and 18 minutes!
Howard Farran was one of the first people in the dental industry to realize the importance of demographic research and site selection. Coming from the fast food background, he saw how important it was to select the right location or you could end up dead on arrival.
We talk about a wide variety of topics in this particular episode. Some topics we touch on are how will self driving cars affect the value of retail real estate, is the stock market over valued, and whats up with Tesla?
Howard hosts the Dentistry Uncensored podcast, https://podcasts.apple.com/us/podcast/dentistry-uncensored-with-howard-farran/id916907356, and has interviewed guests such as Tony Robbins and Grant Cardone.
His website is https://www.dentaltown.com
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Find yourself in the hospital for a physical traumatic event such as a car crash and you'll find gifts and condolences pouring in. However, the response is quite different when it comes to mental trauma. Why is that?
This episode takes a different turn but one that we find very important, dealing with mental health. Dr. Eric opens up about he battled and over came anxiety and burnout.
Mental illness can range from a wide variety of things, but statistics show it's important for everyone to actively address it in this day and age.
Dr. Eric hosts the Deals for Dentists Podcasts and created DealsforDentists.com where dentists can get discounts on almost anything.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Mike C-Roc Ciorrocco is the CEO of People Building Inc - a consulting training company focussed on mortgage and real estate world and expanding to other industries as we speak
He is the host of What Are You Made of Podcast, and has done 300 recordings in 2020.
The 2008 financial crisis created both winners and losers, and we have the gift of hindsight on our side. Those who came out on top were those who were prepared. They didn't over leverage by taking on too much debt and they had equity in all of their real estate holdings. They also had some cash reserves that were ready to invest during a time when blood was on the street.
With interest rates historically low, the residential real estate and mortgage industry are booming right now. Where do we go from here?
Check out his book here: https://www.mikecroc.com/book
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Joseph McGregor is the Managing Partner and Attorney at Law at McGregor & Oblad PLLC.
Joseph focusses on Dental Law, particularly with regards to practice start-ups and acquisitions. They work with both large DSO's and individual practices.
Many people acquiring a practice don't realize that 10 times the amount of time you expect and double the workload, so be prepared. We talk about realistic expectations when acquiring a new practice and how to best set yourself up for success.
A common mistake Joseph see's is that new owners will often invest too much money in new equipment and coaching they don't need. Joseph explains his recommendations for acquiring or selling a business in this episode.
Contact: jmcgregor@mcgregorfirm.com
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Creating a coaching business is no easy task. After years of seeing gaps in the market from selling dental supplies, Phil decided it was time to step out on his own and help dentists optimize their businesses.
Klas Solutions gives optics to their clients by introducing to over 100 KPIs. A number that high might sound daunting, but once broken down these KPI's become not only manageable but monumental in having a business run itself instead of it running you.
His first piece of advice: set daily goals for the business. Secondly, look at your daily recalls.
We also talk about demographics and how to pick areas that have the right ratio of dentists to population size.
To set up a free monitor or grab free tours from Klass Solutions, contact them by phone or email: 844-552-7100 or info@klasssolutions.com
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Ken Kaufman, CFO of Community Dental Partners, has a resume filled with impressive accomplishments.
Ken put himself through school by starting his own business in the financial markets, but that business faded quickly because he failed to learn the needs of his customer. He pivoted into a startup organization where he quickly climbed the ladder before getting started in his career as chief financial officer.
We chat about how his greatest influences, his dad and his Mission President, helped shape who he is today. In addition, we talk as well what to look for in site selection and some operational tips for maximizing business.
Listen along to hear his story and get inspired.
Book Recommendation: The Goal
To contact Ken for questions about working with Community Dental, email kkaufman@cdp.dental
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Dr. Paul Etchison is the host of Dental Practice Heroes Podcast and owner of Nelson Ridge Family Dental.
With a staff of 34 employees, Dr. Paul has never had anyone quit on him in nine years. He attributes this feat to communicating with his staff and empathizing with them. It may be cliche, but it's not easy.
He shares his precise methods of communication and empathizing that work well for him in the episode, as well as new things he learned from the book "I Hear You."
His book recommendations are:
Making money is Killing Your Business by Chuck Blakeman, who was on our show
Clockwork by Michael Michaelwitz
E-myth by Michael Gerber
Dental Practice Heroes Podcast: https://podcasts.apple.com/us/podcast/the-dental-practice-heroes-podcast/id1315253777
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Marketing is a continually changing industry. In the early 2000's local marketing started to transition in part from print to email. Email marketing and remarketing was all the rage with open rates as high as 70%. In the early 2010's this strategy got saturated and open rates dropped, forcing business owners to transition to digital marketing and opening a new can of worms.
How do you attract more leads? How do you convert those leads? How do you measure success?
Gary tells us his story and how he has learned digital marketing and implementation to help dentists grow. His strategies can be used in almost any industry.
To learn more, visit SMC online or check out his free phone scripts. You can also visit roidentist.com.
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Dr. Matthew Kathan is the cofounder of Timber Dental and the cofounder Aligned Integrations.
Over the past four years Dr. Kathan has opened four dental locations in the Portland area and has over 50 employees. He is expecting to open four more de novo sites in the next year.
Since covid, Dr. Kathan works almost completely virtually, spending half his time at the coast and working less hours than ever before. The key to his success is similar to the compound effect: putting in all the hard work and savings upfront to create the life he envisioned.
Learn how Dr. Kathan blended his personal and professional life together in addition to his sacrifices to achieve a level of success anyone can be proud of.
https://www.timberdental.com
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Dr. David Maloley is founder and coach of Relentless Dentist, which helps dentists get off the treadmill and enjoy dentistry again.
We discuss David's story and the personal issues that lead him to decide to create a business instead of a job for himself.
We also cover establishing core values, the hiring process, the importance of marketing, and site selection.
Recommendations include anything by the Author Jim Collins; Good to Great, Built to Last, How the Mighty Fall. He also recommends a steady diet of marketing books.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Professional Real Estate photography is expensive, and with iPhones today having higher quality photos than camera's 10 years ago some people are deciding to take the photos themselves.
We talk about the benefits of hiring a photographer and go over the following categories:
- HDR
- Virtual Staging
- Panorama
- Twilight
- Bluesky Guarantee
- Aerial photo and video
- 3D Panorama
- Virtual Tours
- Virtual showing
Get in touch with Corey and view some virtual tours at Halo Virtual Tours.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Finding the right commercial real estate broker is an integral part of the process when securing a new business location. The most common way is through relationships, which can create sub par results. Look out for these five traits when selecting a broker:
Objectivity and CreativityExperience can create bias. It's not common that "ideal" is available everywhere you would like it to be. Brokers need to be able to think creatively, think objectively, and be perseverant when ideal sites are unavailable. Being transparent through the process is also important in order to succeed in finding the right location.
Say the tenant wants 3000 sf of retail space. The broker should expand the search and look for 2000-4500 sf in retail space or potential redevelopment sites. This way, if the the perfect location isn't available there are still other feasible options.
Fiduciary ResponsibilityBrokers have a responsibility to act fairly to both the tenant and the building owner. Long term, this is the best way to create business on both sides. However, listing agents have a clear responsibility to get the best deal for the building owner as they have an existing relationship and the building owners are a primary source of deal flow. This means that when push comes to shove in the negotiations, the listing broker will err on the side of the owner.
There is a common misconception that hiring a broker costs money, but the fees are paid exclusively by the building owners. Therefore, it makes sense to hire a broker to help with site selection instead of relying solely on listing agents.
Market and Client FamiliarityIt’s important to find a broker that has an understanding of both the local market and the client. This doesn’t mean the broker has to live in the local market. On the contrary, living there can create subconscious bias. In Dallas, for example, the client will have a general idea of several trade areas they wish to pursue. It’s not necessary to have a detailed understanding of the greater Dallas metropolitan area. A good broker can fly in and drive the trade areas in a day or two in order to get market familiarity. In fact, some brokers who are local rely on online searches which often misses new and poorly categorized listings.
Client familiarity refers to the brokers understanding of the client and their industry. Today, word of mouth is the number one way to find brokers. This can lead to hiring inexperienced family members or friends in order to help them out. Although generous, more often than not this type of deal making costs the clients dearly long term. A broker should have at sufficient experience in that specific industry before engaging.
A Focus on Long Term RelationshipUnfortunately there is an inverse correlation between the broker and the tenant. The more the tenant pays, the higher the commission. A broker who values a long term relationship won’t try to squeeze every penny. Rather, they will be focused on getting the best deal for the tenant so they can do many more deals with them.
Another good sign is the broker's willingness to walk way. This shows true objectiveness. Chances are good that through creativity and over time, something will open up that suites the needs of the tenant.
Negotiation and ExperienceSome brokers have been in the business a long time but still don't produce results. The annual average production is an important metric to consider alongside the years of experience. Most experienced brokers will know a certain type of real estate extremely well while having almost no experience in other sectors. Look for a broker that can admit when they are outside of their field.
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What does the future hold? Ed Kobel is President of Debartalo Development which has over $1 billion in real estate holdings. He spends his time looking for industry patterns and great deals.
Ed shares his life experience, his investment experience, and predicts what he thinks is coming in the future for the stock market and commercial real estate.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Simple vs Complicated LOI
A letter of intent, LOI, can be relatively simple or extremely complex. Both styles have pros and cons to consider.
A simple LOI can be generated quickly with little cost. These are most common when an organization is simultaneously considering multiple locations and is interested in moving quickly, but there are other reasons for simple LOI's, too.
If an organization is trying to decide between three or four locations, it makes sense to put out a one page LOI with basic items such rent, length of the term, and tenant improvement. This way, both the tenant and the landlord can start to see if they are in the same ball park. Getting a response to a simple LOI is more likely to happen quickly, so the organization can begin vetting multiple locations at once before spending too much time on any one particular location.
Complicated LOI's are useful in different ways. If the organization is confident in the location or if there are several other tenants interested in the space, the landlord has more leverage. A complex LOI usually passes through the attorney's desk before getting sent out to the landlord, so delivering a sophisticated LOI shows the organization is serious and has put in time and resources.
As companies gain more experience over time, their LOI's become more complex as a result of first hand bad experiences. This also serves to show the landlord that the organization is to be taken seriously.
If you need help finding the perfect location or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Chuck Blakeman is the Founder, Chief Transformation Officer of Crankset Group, author of the #1 rated business book of 2010 “Making money is Killing Your Business”, and has started and built 8 businesses internationally.
Chuck brings his unique approach to scaling a business in this episode and goes into detail on what he thinks most businesses get completely wrong: management. Chuck is opposed to the hierarchical management style popular in corporate America today, and instead explains the "Lattice Approach" and how this can help organizations break free from their current bottle necks. The concept is simple, treat employees as adults capable of making decisions that will benefit the company overall.
We also discuss assuming verses verifying and how that can have a catastrophic effect on the outcome.
Chucks book recommendations are:
The Lattice Organization - Bill Gore (actually just a 16 page paper)
The Human Side of Enterprise - Douglas McGregor
The Art of Possibility - Zander & Zander
Seven Habits - Covey
Turn the Ship Around - David Marquet
You can get in touch with Chuck at Chuckblakeman.com or send him an email Chuck@cranksetgroup.com.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors subscribe to our podcast.
Chapter 9 of Never Split the Difference: Bargain Hard
It never feels good to get punched in the face, metaphorically speaking, with a low offer, but experienced negotiators use this as a tactic to get the best price. There are several techniques to handle this and reverse this if it happens to you.
Psychology is important, but solid techniques are also necessary in order to get the biggest piece of the pie. The Ackerman Process is the strategy of creating an extreme anchor and how to eloquently work towards your target price with diminishing concessions. Decide the amount you want to pay, then create a low anchor by offering 65% of that. Increase your next offer to 85%, then 95% before offering the final amount in a non round number. This gives the counterpart the feeling they are squeezing all they can out of the deal.
There are three negotiator personality types: assertive, accommodator, and the analyst. All three need to be treated differently according to their style during the negotiation.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors subscribe to our podcast.
Kenneth Hertz is the Principal for KTH consulting and executive consultant for Brittain Kalish Group. Kenneth has has 25 years of executive and senior-level management experience in the healthcare field, with an additional 20 years in executive-level management work in the nonprofit sector. He has consulted single and multi- specialty practices as small as two FTE physicians to practices of up to 700 FTE physcians; both physician and corporate-owned. He also had responsibility for practice valuations and acquisition and mergers.
We discuss Kenneth's background and how that lead to a healthcare consulting career.
You can reach him at ken@kthhealthcon.com
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors subscribe to our podcast.
Brian Hanks helps Dentists negotiate and acquire new practices on behalf of the buyer.
We discuss buying the business and the pros and cons of buying the real estate. We talk about best ways to generate leads of potential sellers, which includes building rapport with the sellers so they know like and trust you.
There are two parts to a deal, one is price and the other is the terms. Both those are effective in negotiating and we discuss how to balance the two.
You can send him an email at brian@brianhanks.com. You can also get a copy of his book on how to buy a dental practice at brianhanks.com/book
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Virtual tours are extremely popular with residential real estate but have yet to gain as much traction in commercial real estate. Despite the high cost for the camera equipment, you can get your space photographed for a very nominal monthly rate.
Corey Graft, founder of Halo Virtual tours, walks us through the entire process. Since Covid has changed the world, virtual tours will become increasingly popular if not mandatory.
Check out halo tours at http://halovirtualtours.com
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
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This podcast is better viewed with video and you can find it on the Leaders FB Group.
We give Bloomington Courtyard Dental in Saint George, UT a deep dive review of all of the relevant demographic data. We cover income, population density, competition, geographical boundaries, and more.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
In chapter 8 of Never Split the Difference by Chris Voss we give another real life hostage negotiation example. We'll discuss why "yes" means nothing without how, and we'll give 4 ways to say no without actually saying no.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Dr. Kaur is the CEO of AiM Dental Alliance which has nearly 30 locations. She is the former COO of Lone Peak Dental and Samson Dental Partners to name a few. Dr. Kaur is also a guest speaker at the DEO Virtual Summit this year.
In this episode we talk about how her past experiences shaped who she is today and gave her the knowledge needed to thrive in the new DSO space. Aim Dental has ambitious goals and Dr. Kaur shows why she is the right person to have in the drivers seat.
You can get in touch by going to www.aimdentalalliance.com or send her an email amankaur@aimdentalalliance.com
If you need help finding the perfect location or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
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Bend Reality to Your Favor
Chapter 7 of Never Split the Difference starts with a real life hostage story in the Dos Palmas located in the Philippines. We take a look at the worst failure of Chris's career and how that lead to his discovery of the calibrated questions.
We also teach you the reason to ask "how" questions that start with How and What, but refrain form Why and any other word that can create a close ended responses.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Bryson and Cory are the cofounders of Dentavine and together own several dental practices.
Software as a service has seen explosive growth over the last 10 years, and these guys saw how they could use it to serve a need in the market place. After seeing huge success in the law industry, they customized the software to work for the dental industry. They have over 300 employees.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Ashton Prince is a general/cosmetic dentist, Lecturer, Editor, and Consultant of the Best Practices Magazine from ACT Dental.
We talk about best practices in the dental industry and how that overlaps with best business practices across the board. We also talk about gaps in the industry and the importance of setting priorities.
To learn more about ACT Dental Coaching or talk with Ashton, email him at ashton@actdental.com.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
An LOI has so many components, but there are a handful that have the greatest impact on the bottom dollar amount.
The biggest economic factors are
- The base rent
- Increases
- Tenant Improvement Allowance
- Renewal Terms
We discuss the perspective of the landlord and the tenant to try and help you negotiate the best deal.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
Download our Top 10 Site Selection Factors.
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Darin Acopan is Partner and Executive Vice President of the DEO. The DEO is the Dentist Entrepreneur Organization. Modeled after the Entrepreneurs Organization, EO, the DEO is designed for dentists who are looking to scale to multiple locations.
Darin tells his story from youth to now and drops tons of nuggets of wisdom along the way.
To sign up for the DEO summit at a discount, go here:
http://Deodentalgroup.com/Summit-fall/Promo code- REALESTATE
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Justin Core is the Broker Owner of Core Group Real Estate, founded in 2015. The Core Group specializes in residential real estate. The Core Group also has an emphasis on commercial real estate and multi family.
In this episode we discuss the current state of the economy, the implication of mortgage rates, migration trends, and the future real estate.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
Callum Laing is CEO of Multiple Business Housings (MBH), a publicly traded company on the Frankfurt stock exchange. This episode is uniquely fascinating because we explore a topic most entrepreneurs dream of but never get there: taking your company public. Callum explains how it's not as complex or as expensive as you might think.
For business owners looking to acquire other businesses, the credibility that comes from being a publicly traded company can make a huge difference in your negotiations.
Email us for an introduction to Callum.
mbhcorporation.com - MBH webisite
https://www.entrepreneurial-investing.com/gift - Callum will give listeners both the books on the model.
https://callumconnects.libsyn.com / https://www.youtube.com/callumlaing - Callum's podcast
Callum's Social Media:
https://www.linkedin.com/in/callumlaing/
https://twitter.com/LaingCallum
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
This episode was recorded in conjunction with Retirement Tips Radio. Find out more information at https://businessradiox.com
About this episode:
Austin Hair, Business Development Manager with Leaders Real Estate, provides business development for Leaders Real Estate. He is an experienced investor and a previous small business owner.
Austin brings his background in networking, marketing, and relationship-building from other industries to the world of commercial real estate development.
His primary responsibilities include finding new clients and raising capital.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
After our first initial meeting with the seller things didnt go exactly according to plan. We talk about some of the negotiation strategies we used along the way, and the black swans we learned about.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
Chapter 6 of Never Split the Difference focusses on the importance of setting deadlines, loss aversion, and how to use the F word (fair) to your advantage.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
We have a new series called Deal Deep Dive. We tell the story of current deals we're working on in real time and post the stories along the way. Let us know your thoughts.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
During this episode we catch up with Danielle Polite, the account manager of over 200 practices for ABB Optical, we talk about the optometry industry from a macro level and also discuss how to navigate through the second surge in covid cases from a business perspective.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
Today we interviewed Sarah Varney and Christine Diehl, founders of DSO Hygiene Excellence. This interview is geared specifically towards dental practices, but there are nuggets for all types of healthcare providers.
We discuss the biggest gaps most DSO leaders overlook when it comes to their hygienists, common paint points among dentists according to their recent survey, which benchmarks to use with hygienists, how are dentists faring in the current covid environment, and how do they see the future of dentistry moving forward.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Contrary to popular negotiation practices, yes is not the end of the negotiation or even the goal of the negotiation. The goal is to get your counterpart to say yes, so we'll discuss how to get there in this lesson.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://reuniversity.org and fill out our form.
We have a tendency to think that we need to get our counterpart to yes as soon as possible. According to Chris Voss, nothing could be further from the truth. Get your counterpart saying no, FAST!
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
LOIs have extensive terms that can be unfamiliar. We discuss Tenant Improvement, site selection, Important dates and meaning, Landlord delivery, construction/remodeling clauses, terms, renewals, abatements, and increases. It's important to hammer out these terms before you agree to an official lease signing.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Chapter 3 of Never Split the Difference talks about tactics such as tactical empathy and labelling. Using a proper label can do wonders for building rapport with your counterpart. We discuss several real world examples where this proved invaluable.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Site SelectionSite selection is the first step of the lease process that needs to be taken seriously. There are several components that make up the bulk of the site selection process, such as demographics, driveby traffic vs accessibility, rent rates, and multiple trade areas.
Target Demographics
Through analyzing your current portfolio’s demographics or portfolios of other similar successful businesses in your industry, you can ascertain the variables that make the most sense for your next location. Using these variables, you can avoid areas that may present populations that do not have the propensity to utilize your services.
The two most important demographics are population density and income. These numbers vary widely from region to region, so the best method is to compare these numbers between your potential target sites.
It’s better to use someone on your team or a broker you trust to find the most accurate numbers than to rely on the promo flyers.
Take radius into account, too. The site may have fantastic 5 mile demographics, but if your customers don’t travel more than 2 miles to come to your location then this may not be relevant.
Drive By Traffic vs AccessibilityThere is an inverse relationship with drive by traffic and accessibility. While drive by traffic is great and creates exposure for the building, too much of it starts to impede the accessibility to the building. The right balance depends on the needs of the tenant.
Competition
Understand your competitors’ services, hours, convenience of location, and reputation in the community. Factors like these allow you to analyze the quality of competition and find ways you can either avoid legitimate competitors or out-position poorly positioned or poorly operated locations.
The best tool is Google Maps for two reasons: finding the locations and looking at their reviews. Google automatically keeps business information updated so you can get a street view or pictures of the inside. When it comes to reviews, many businesses are under performing. Competitors that have less than 3.5 star averages are ripe for disruption. Likewise, those with 4.5 stars or higher will be hard to compete with.
Physical Site CharacteristicsSites that are easily accessible are not only convenient for your customers, but also for your staff.
Be wary of:
-Obstructions to visibility from the roadways
-Parking limitations
-Obstructions to signage visibility
-Walkability
While there are certain things that can be controlled in some situations (parking and site design), most of these physical characteristics are permanent.
Careful diligence is needed to make sure your site meets your requirements, if feasible.
Market StrategyEstablish a five to ten year timeline for growth based on the market. A town of 50,000 might be able to support a second or third location, where as city like Dallas might be able to support 40 locations.
Trade AreasReal estate changes every day. You may have a site that meets all the criteria in terms of demographics, drive by traffic, competition, anchor tenants, etc but nothing is available. A month later, something could be available. If you're goal is to open two or three new locations, establish 6-8 trade areas to choose from.
If you need help finding the perfect location email us at podcast@leadersre.com
Download our Top 10 Site Selection Factors.
View our library on apple podcasts or REUniversity.org.
Connect on Facebook.
Chapter 2 of Never Split the Difference compares the talks about the art of mirroring and the different voice types. Mirroring, aka isopracticism, is repeating the last several words your counterpart speaks. The three different movie types we discuss are the positive voice type, the late night DJ, and the assertive voice type.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Chapter 1 of Never Split the Difference compares the FBI's teaching of empathetic negotiation to Harvards teaching of logical negotiation. It talks about human emotion and how to use tactical empathy.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
The lease process involves several important facets. In this episode we talk about site selection, the LOI, due diligence, lease review, and lease execution.
We go over all of the terms you'll need to know before signing your lease before we take a deep dive into each one of these categories in the following episodes.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
Download our Top 10 Site Selection Factors.
View our library on apple podcasts or REUniversity.org.
Connect on Facebook.
There are different stages of life, income, and in turn financial literacy. We break down the thought processes you need to consider as you climb up the income ladder and start making more money in your career.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Three Options for Your Money
There are three common places to put your money; cash, stocks, and real estate. You can also invest your money into a private business, but for this article we will focus on the three most popular options.
These categories can be broken down even further. Stocks have options, shorts, and longs. Real estate can be broken into residential, commercial, and Real Estate investment trusts (REITS).
Cash
When we say cash, we are referring to the amount left over after expenses are paid every month.
Cash is the default place to store your money, either in bank accounts or stuffing the money under your mattress if you’re into that. The reason this is the default option is because it’s the easiest thing to do. Money is deposited into your bank account from you source of income and you don’t need to do anything else.
This is also the most expensive place to keep your money because of the invisible tax called inflation. We recommend saving six to twelve months worth of living expenses, but anything over that may cost you.
The interest rate most banks pay for holding your cash is around .06%. If you saved $100,000 and kept it in the bank, they would pay you $60 a year. This is almost worthless. If you invested $100,000 in the bank in the year 200 and left it in there, it would be worth $101,206 by 2020 with a net profit of $1,206.
On average, annual rate of inflation is between 2 and 3%. This means, if a gallon of milk costs $1 today, it will cost $1.03 in one year.
In the year 2000, $100,000 had $148,000 of purchasing power in today’s world. That means we have seen 48% inflation in the last 20 years. In the year 1975, $100,00 had $476,000 of purchasing power in today’s world.
In our opinion, this makes cash the worst option for your money because every year you will lose 2-3% of the value.
Stocks
For simplicity's sake, when we say stocks we will refer only to index funds and equities, not options or shorts.
In 1996, the S&P 500 was trading at $700. As of July 2020, while recovering from the corona virus sell off, it is trading at $3,053. This equates to a 6.5% return annual return. If you had invested on the worst day in 2007, you would have doubled your money by 2020. If you had invested on the lowest day day in 2009, you would have seen a 436% return.
Over a short time frame, stocks can be risky because of the volatility. However, if you have a time frame of 20 years or more you will drastically increase your odds. In fact, there has never been a time in history where the market did not significantly increase over a 20 year horizon.
We recommend stocks over cash.
Real Estate.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Psychographics - understanding trends and patterns in human behavior.
While demographics talk mainly about measurable characteristics such as age, income, owning vs renting residencies, etc, psychographics go one level deeper and talk about consumer behaviors. They categorize based on spending patterns, marital status, number of children and several other factors.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Anchor tenants are typically businesses that take up large amounts of square footage in a plaza, such as grocery stores and even hospitals. Choosing the right one can be monumental, but choosing the wrong one can be catastrophic.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Trade areas - the specific 3-10 mile radius you want to do business in.
Whats the realistic drive your clients are willing to make? What's your area of influence, opportunity zone, how many miles is the radius?
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Competition EvaluationCompetition evaluation is the process of comparing and examining businesses that offer similar services. It's tempting to assume that everyone in a particular industry is competition to one another, but often times there are enough differences to support many types of businesses within the same industry.
With dentistry, for example, there is enough variance between the different specialties as well as those who take different insurances to support multiple dentists in the same geographic trade area. Certain dentists specialize in pediatrics, others in adult care, and others in crowns and full mouth procedures for the elderly population.
Looking at national statistics, it's clear to see that there is normally a dentist for every couple thousand people, but it's possible to break down that data to get an even more precise picture of the competition.
Taking the urgent care industry as an example, competition varies both from an operating and a geographic standpoint. From an operating standpoint, there is the walk-in, episodic category. Is the competition actually legitimate? Do they have extended evening and weekend hours? Do they have X-ray equipment on site? Are they staffed with MD's or do they have lower level providers?
Form a physical standpoint, at first glance there may be five players in a five mile radius. But when you start to break it down more granularly, you may see that two or three are located in an area thats an older part of town that lacks appealing retail like Chic-fil-A or Kohls.
Minute clinics will also pop up on google when searching for an urgent care, but they are not setup to give the same level or care as a traditional urgent care. It will still serve as competition for ailments such as the common cold, but it's worth noting the difference.
Certain operators view competition vastly differently. While some look at competition as reason to stay away, others will search out the competition and deliberately open across the street as a means to compete for market share. Within the urgent care industry, many of these are hospital backed locations that serve as loss leaders for surgery referrals or some other sort of continuity of care.
Another important metric when evaluating competition is the average client review. The three main platforms that are known for having the most accurate reviews are Facebook, Google, and Yelp. Typically, Google will have the most data between these three, but it never hurts to examine every platform.
When researching the reviews, be wary of mediocre reviews. This doesn't say much about how the competition operates their business. Rather, be on the lookout for extremely good or extremely bad reviews. As an vague rule of thumb, average reviews under 3.5 stars on Google could be considered ripe for disruption from competition, while anything above 4.5 stars could be considered strong.
Of course, the average review score alone doesn't paint the whole picture. Anything less than 20 reviews is almost negligible, so the more data the better.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to leadersre.com and fill out our form.
Synergistic Users - identifying endemic and non-endemic businesses that could lead to referral sources and increased traffic.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
There are several types of target audiences you can choose from.
We discuss some of the following questions.
Who are my patients? Blue collar, white collar, insurance, medicare/medicaid. Understanding how proximity to communities affects strategy
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Demographics can be confusing and often times misleading. We break down the terminology and definitions of common demographics such as household income, population density, and drive by traffic.
Even with the proper knowledge at your fingertips, there is no substitute for common sense. Visiting the property in person will always tell you more than any amount of data can give you.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
Healthcare operators have a unique position when it comes to Commercial RE.
We take a deep dive into some real life examples of healthcare operators who have done a great job at maximizing their real estate investments while continuing to grow their locations at the same time.
When you have multiple units, Real Estate is a great investment, but it might not be the best long term hold when you're looking in increase the number of locations. We work through some of the numbers to help you decide if it makes sense to buy and hold or not.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
A cap rate (capitalization rate) is a term in commercial real estate that refers to the way a building is evaluated. It's calculated by taking the net operating income, NOI, and dividing it by the cost of the building in order to give the rate of return.
Capitalization rate = Net operating income / Cost of the building
The cap rate is a great unifying metric because it assumes the property is purchased in cash and not a loan, which can vary widely. It allows you to compare different buildings at a glance and quickly determine how the asking price is valued based on the rent.
The NOI is the annual income expected from rent minus the expenses for managing the property. This includes things like lawn maintenance and taxes but not debt service.
The asset market value can be used in place of the cost of the building in determining the cap rate if the building is not for sale. If the building was inherited for example, there is no building cost, so using the current asset value divided into the NOI will yield the most accurate cap rate.
Examples
Assume a building has an annual rent collection of $120,000/year. The property has $20,000 in maintenance expenses and taxes, leaving $100,000 in NOI.
The building cost is $1 million. The NOI of $100,000 divided by the building cost of $1 million is 10%. This means if the investor bought the building in cash, he could expect his return on investment to be 10% which is the same as a 10% cap rate.
$100,000/$1,000,000 = 10%
The cap rate is a better measures of value compared to ROI is because the ROI is determined by the debt service, which can vary widely. Some banks lend 80% of the purchase price while others lend only 60%, and some investors will choose to purchase completely in cash.
The cap rate can be compared to riskiness. The riskier the investment, the higher the return investors will want to see. If there is a single mom and pop shop renting the building without a substantial personal guarantee, investors will want to get a higher return on the asset value, usually upwards of 10%.
If the tenant is a highly accredited national chain with a low chance of default, investors are willing to accept returns on the asset value as low as 5%.
Real estate comes with inherent risks and several other factors can lower the cap rate. If there is a 4 tenant building generating $100K in annual rent and two tenants move out, the annual rent collection could drop to $50K. Since property maintenance expenses will stay the same, this will have a severe negative impact on the cap rate. Sometimes these buildings make for attractive investments as the upside potential is high. If the cap rate suffers too much from a loss of rent, the traditional land/improvement value may surpass the rental income value.
In another example, rent might stay the same but maintenance fees or taxes could increase, also adversely affecting the cap rate.
In another case, the asset value of the property could diminish, similar what happened in 2008, which would hurt the cap rate.
Generally speaking, as the seller of the building, the lower the cap rate the better. A $100K NOI at a 5% cap rate yields a sale price of $2 million, while a 10% cap rate yields a sale price of $1 million.
However, in most cases the cap rate will get better over time because the purchase price remains the same but leases have rent increases built into them. Overtime, the rent increases faster than the expenses and the debt service, which is what makes real estate such an attractive investment.
If the building is purchased for $1 million, the current annual rent is $120,000, and there is a 3% annual rent increase, the cap rate will continue to improve for the owner.
If you need help finding the perfect location email podcast@
Buying your business's real estate is not a black and white decision. It will depend on what your long term goals are.
McDonalds always owns their real estate, but Walgreens never owns their own real estate. How can both be right?
We advocate for real estate ownership as an investment and diversification tool. However, we rarely advocate owning the real estate if your business is the primary tenant because the value of the asset is tied the success of the business. If the business has to shut down, the value of the real estate will take a huge hit.
Buying the real estate for your business doesn't have to be a long term strategy. One strategy is purchasing or developing the real estate on behalf of your business and immediately selling it for upfront capital. For example, a doctor could purchase the real estate for his practice and sign a 10 year lease to himself. Since the lease is the primary value driver of the building, the doctor can sell the real estate for a profit as soon as the lease is signed.
Let's say an empty 3500 sf building is be worth $1 million. If the doctor buys it and signs a 10 year lease at $36 per square foot, the total income would be $126,000. If there is $20,000 in annual maintenance and taxes, the net operating income, NOI, would $106,000. The real estate for healthcare practices often trades at a capitalization rate of 8.5%. In order to calculate the value of a building, take the NOI and divide it by the cap rate.
$106,000/8.5% = $1,247,000.
The doctor has increased the value of the building by $247k by signing the lease. The quickest value jump happens the moment the lease is signed. At this stage, he will have to evaluate whether he will get a better ROI by holding his real estate or selling it to an investor and reinvesting the money in other real estate or his own business.
Many healthcare operators we work with have a plan to scale to multiple locations. Typically, the operators get a 30% to 50% return on their money when they invest it into growing their core business. Over time, investing in the real estate of their practice locations yields somewhere between 9% and 11% ROI.
This is why so many well known, successful businesses rent their locations. The ROI is simply much stronger by investing in the growth of their business than the real estate the business sits on.
Likewise, some business with deep pockets. develop the real estate for their new locations so that they can flip them for upfront capital. Generally, it's not worth holding the real estate after the value creation since they can get a better return by replicating this process or investing in the business.
In this episode we break down the pros and cons of both options so you can get a clear picture of what to look out for when answering this question.
If you need help finding the perfect location for your practice or you're ready to invest in commercial real estate, email us at podcast@leadersre.com.
You can also download the Top 10 Site Selection Factors or view our entire podcast library.
Healthcare has been traditionally located in all office space. Urgent care has broke the mold by putting their locations on busy street corners to attract drive by traffic.
In this episode we break down some of the math and show how increasing rent plays into patient flow by using a simple formula. We also dive into specifics of what to watch out for and what to expect.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.
What To Look For In A New Location
There are several common sense factors to take into consideration, but there are also factors that only come from hands on experience. We do our best to relay our experience to you so that you can save yourself the pain that comes from trial and error.
In this episode we talk about demographics, patient doctor ratios, and drive by traffic.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com.
Download our Top 10 Site Selection Factors.
View our library on apple podcasts or REUniversity.org.
Connect on Facebook.
Retailization is the term for the growing trend for traditional businesses in office or industrial settings to switch over to retail locations.
Nate Palmer and Austin Hair reveal the factors that will determine whether or not the retailization of your location makes sense.
If you need help finding the perfect location for your practice or your ready to invest in commercial real estate, email us at podcast@leadersre.com or go to https://leadersre.com and fill out our form.